ConAgra to close two plants in Minnesota
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(AP) - Packaged-food maker ConAgra Foods Inc. announced plans Thursday to close two manufacturing plants in Minnesota and expand another, while cutting about 200 jobs.
On Thursday, the company said it would close its microwave popcorn plant in Edina, Minn., by late April and transfer production to plants in Rensselaer, Ind., and Irapuato, Mexico.
The ConAgra Foods South popcorn-ball plant in St. Paul, Minn., will be closed and its production moved to the ConAgra plant in Lakeville, Minn.
Part of the bulk popcorn plant at Lake View, Iowa, will be closed and production cut by May.
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The company also said it will expand its Rensselaer plant and reorganize warehousing there.
The changes are part of a reorganization plan the Omaha-based company announced in March last year. ConAgra said it would close 10-12 plants as part of an effort to streamline operations, cut operating costs and raise gross margins.
In September the company announced plans to close five plants and eliminate about 400 jobs.
The changed announced Thursday will take eight to nine months to finish, ConAgra said.
The company aims to cut $100 million in annual fixed costs by fiscal 2009.
ConAgra's overall restructuring plan involves shifting the company's focus to the brands executives believe have the most potential, such as Healthy Choice, Chef Boyardee and Egg Beaters.
Accordingly, the company has sold its refrigerated meats, seafood, cheese and malt businesses - including brands such as Butterball, Cook's, Louis Kemp, Armour, Decker, Ready Crisp and Margherita.
(Copyright 2007 by The Associated Press. All Rights Reserved.)