Burning bridges...

- Last updated on GMT

Related tags: New south wales, Burns philp

Australian food ingredients company Burns Philp continued to slim
down its newly acquired firm, Australian bakery giant Goodman
Fielder, with the announcement on Tuesday that another three of the
company's Australian bakeries will stop production by 30 May.

Australian food ingredients company Burns Philp continued to slim down its newly acquired firm, Australian bakery giant Goodman Fielder, with the announcement on Tuesday that another three of the company's Australian bakeries will stop production by 30 May.

The move follows hot on the heels of closures announced late last month and at the beginning of this week, all part of Burns Philp's 'Phase 1 of the Baking Manufacturing Review', that encompass four bakeries at Geraldton, Kalgoorlie, Mount Gambier and Broken Hill and the Wagga Wagga bakery.

Two bakeries in the Queensland state and the other is in Victoria were touched by the announcement yesterday.

All the closures are part of a cost-cutting strategy launched by the food ingredients company in a bid to help finance fund its A$2 billion hostile takeover earlier this year that was mostly funded by debt.

Related topics: Market Trends

Related news

Show more

Follow us

Products

View more

Webinars