Bakery product supplier CSM has said it intends to close down a manufacturing facility at Oak Creek, Wisconsin, with about 100 redundancies, the company has said.
CSM has announced that it is selling its French frozen bread
operations to Neuhauser for €7.7m, a move that follows heavy
restructuring to improve efficiency of its European bakery supply
unit.
US agricultural giant ADM has sold its North American bakery
ingredients division in a move designed to streamline its
operations and focus on its core areas of expertise, the company
told FoodNavigator-USA.com.
CSM is to invest almost €20m to expand production capacity for its
American style bakery products, as the company continues its
restructuring process after a disappointing 2005.
CSM's decision to close a production facility in the US is the
latest in a series of initiatives designed to consolidate the Dutch
group's market position.
Dutch bakery ingredients firm CSM continues to focus on core
business, clearing the sale of its sugar confectionery unit Malaco
Leaf to investment companies Nordic Capital and CVC Capital
Partners.
European bakery ingredients leader CSM will chip away at its German
subsidiary as the firm announces job cuts and restructuring efforts
to bring about savings and underline its focus on becoming an
international bakery supplies player.