Danone to close Germany dairy plant [Yahoo! Finance]
DANONE S/ADR (DANOY)
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Source: Yahoo! Finance
The Activia maker said it is lining up the closure of the site in Ochsenfurt by the final quarter of next year. In a statement, Danone explained the decision was necessary as the “only way to remain competitive and successful in the long term in German-speaking countries”. Around 230 jobs will be affected. The French giant said production costs at the site are "well above the average of other European Danone plants". It also cited "years of inefficiency caused by declining capacity utilisation". Danone said the facility's capacity utilisation is expected to reach only half of 2019 levels in 2024, making the closure “unavoidable”. Richard Trechman, managing director for Danone's operations in Germany, said the plant is “not sustainable in the current market situation”. “There is less consumer demand for the locally manufactured products and high-potential Danone products cannot be produced locally,” Trechman added. The Ochsenfurt plant manufactures dairy products, desserts
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