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13/05/2002
Major jobs loss as Irish dairy producer shuts plant
Over 700 jobs are to go in England as Irish food producer Glanbia announced plans to close it’s sliced cooked meats business in the UK.
The Irish firm blamed “continuing and deteriorating trading difficulties” for the move, which affects workers in Bradford and Milton Keynes.
Glanbia Consumer Meats supplies the UK retail and food service sectors with a range of sliced cooked meats, sandwich meats and other convenience foods.
The company said it had taken the decision to recommend closure with “great reluctance” after staging a two-month strategic review.
Group managing director John Moloney said: “Unfortunately this business is moving into a severe loss making situation and, as matters currently stand, it has no real or reasonable prospect of trading out of its difficulties.”
Glanbia said the net loss relates to asset write-offs, cash closure costs and the write-back through the profit and loss account of goodwill previously written off to reserves and will be treated as an exceptional item in its 2002 financial statements.
The company has pledged to help staff find alternative employment and will look at the possibility of redeploying people within the group. Employees are currently being consulted on the proposal to shut the business.
Glanbia, which employs more than 7,500 staff in Ireland, UK, USA and Belgium, is also one of Europe’s largest dairy companies and one of the world’s largest cheese manufacturers.
(AMcE)
The Irish firm blamed “continuing and deteriorating trading difficulties” for the move, which affects workers in Bradford and Milton Keynes.
Glanbia Consumer Meats supplies the UK retail and food service sectors with a range of sliced cooked meats, sandwich meats and other convenience foods.
The company said it had taken the decision to recommend closure with “great reluctance” after staging a two-month strategic review.
Group managing director John Moloney said: “Unfortunately this business is moving into a severe loss making situation and, as matters currently stand, it has no real or reasonable prospect of trading out of its difficulties.”
Glanbia said the net loss relates to asset write-offs, cash closure costs and the write-back through the profit and loss account of goodwill previously written off to reserves and will be treated as an exceptional item in its 2002 financial statements.
The company has pledged to help staff find alternative employment and will look at the possibility of redeploying people within the group. Employees are currently being consulted on the proposal to shut the business.
Glanbia, which employs more than 7,500 staff in Ireland, UK, USA and Belgium, is also one of Europe’s largest dairy companies and one of the world’s largest cheese manufacturers.
(AMcE)
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