Feb. 16, 2018 | Corporate
Seneca Foods Corporation (“Seneca”) (NASDAQ: SENEA, SENEB) announced today that it will close its plant in Modesto, California, due to challenging economic conditions. The facility is primarily used for packaging and warehousing of the Company’s peach and fruit cocktail products. The Company expects this plant closure to improve its long-term financial condition and reduce leverage.
Estimated restructuring charges as a result of the closure will be disclosed in future filings with the Securities and Exchange Commission. Production operations at this location will cease prior to the 2018 production season. Warehouse operations will continue for an unspecified period serving as the Company’s west coast distribution center.
The Modesto workforce includes approximately 265 full time employees. The Company recognizes that these changes will have a significant impact on employees and their families and intends to offer transition benefits to these affected employees.
view the full press release here