Goodman Fielder: announces further rationalisation

Macquarie Park / AU. (gfl) Goodman Fielder Limited announces that, as part of the ongoing rationalisation of its manufacturing operations, the company plans to close its bakery in Geelong in Victoria and restructure fats and oils manufacturing at its Mascot plant in Sydney.

The Geelong bakery will be closed effective November 30 and production moves to the bakery in Ballarat. At Mascot production of packed spreads and packed oils will be relocated to larger and more efficient plants in Brisbane and Melbourne, allowing the site to specialise in bulk oil processing and liquid groceries manufacturing.

«This continues our drive towards achieving greater efficiencies throughout our manufacturing platform», Goodman Fielder Managing Director Peter Margin says. «Our goal is to be the lowest cost manufacturer in all our major categories».

It is envisaged that approximately 90 positions will be made redundant. The total «one-off» costs associated with the restructure are estimated to be ten million AUD and these will be accounted for as significant items in the company´s December 2007 results announcement.

Alternative employment will be sought elsewhere in the company for those employees affected. Suppliers and customers will also be contacted to determine whether employment can be offered to retrenched employees. Full retrenchment packages including outplacement services will be available to affected employees, says Australasia´s leading listed food company.