FOOD DIVISION STRATEGIC REVIEW AND RESTRUCTURE

Page 1 of 1
  1. 74.0k
    Posts

    In FY2020 Select Harvests undertook a comprehensive Strategic Review of the growth
    options and supply chain solutions for the Food Division.
    Paul Thompson Managing Director of Select Harvests said “The Strategic Review found
    that the Thomastown facility is not core for our future supply chain requirements and
    our strategic focus is best directed to investing in our Carina West processing facility
    where we value-add and market our almonds for sale in domestic and export
    markets.”
    This conclusion was reached after considering multiple options including upgrading the
    existing Thomastown facility, developing a new production facility, outsourcing valueadded production or investing in our Carina West facility and moving more valueadded almond processing from Thomastown to Carina West, merging the Carina West
    and Thomastown facilities.
    The decision has been made to restructure the Food Division to focus on Select Harvests’ competitive advantage in
    growing, value adding and marketing almonds in the domestic and export markets by expanding the Carina West
    facility.
    Select Harvests has appointed its corporate adviser, Kidder Williams, to seek expressions of interest in the
    Consumer Branded business and Thomastown processing facility.
    Consolidation of almond processing in Carina West
    We are working on a progressive 18-month transition plan to move more almond processing from Thomastown to
    Carina West. This will result in us investing in additional jobs, production capacity, new technology and new
    warehousing. This investment will commence immediately, with the stock pad currently being increased and a
    new paste machine arriving in April. Some of this investment was already in our long-term plan but has been
    brought forward due to the recent Piangil acquisition.
    The Carina West facility will remain an almond only facility to avoid allergen contamination.
    Paul Thompson said “We are focussed on delivering the best long-term return for our business and outstanding
    customer service to our customers. The expansion of the Carina West facility will create a supply chain that
    enables us to strengthen our competitive advantages in growing, value adding and marketing almonds in the
    domestic and export markets.”
    This announcement has been approved by the Board of Select Harvests.

    courtesy of Bell Direct
    ===============================================================================================

    DYOR

    i do not currently hold SHV ( but did between May 2011 and January 2018 )

    i was starting to worry i exited too soon here

    but crikey i MIGHT get a chance at a second entry this year if i choose to buy

    take care

    1 like
Your browser is too old for TopStocks and not secure. Please update your browser