Wednesday, February 9, 2022

Saputo closing plants

Saputo Inc. is closing a plant in California and streamlining two in Australia where there will be some layoffs, chief executive officer and board chairman Lino Saputo announced.

The changes will cost the company $169 million, but will improve profits by $112 million by 2025, he said.

The  California plant at Tulare does cheese cutting and wrapping and will be closed next year.

The first phase of its plan will see the modernization and expansion of cheese manufacturing facilities in Wisconsin and California over two years starting in the fourth quarter of fiscal 2022.