H.J. Heinz Co. global expansion efforts pay off the coast, at the wheel of his net income in the fourth quarter 16 per cent. But large manufacturer of the said ketchup that should raise prices and cut jobs to continue its profitable path.
The company, based in Pittsburgh, announced Thursday that it will lay up to 1,000 jobs globally in 2012 fiscal close five plants. Heinz has 37,000 workers worldwide. I
The closures will include two plants in the United States, both in Europe and the Pacific region. It lay approximately 800 to 1 000 positions and remain with 76 plants. Heinz does not more plants would close.
Heinz has looked like China, India, Russia and the Brazil emerging markets to help fuel its growth. The company recently acquired a majority stake in Brazilian food maker Coniexpress SA Industrias Alimenticias, which in fact brand ketchup Quero and other condiments. In November, Heinz purchased Foodstar, a manufacturer of Chinese soy sauce.
Emerging markets, composed of 17 per cent of its revenues in the fourth quarter. Heinz sales on emerging markets estimates will be more than 20 per cent tax in 2012.
"This is where the growth is in the 21st century," Heinz CEO William Johnson said investors at its annual meeting Thursday.
Heinz was million, or 69 cents per share, for the quarter. Is 192.4 million, or 60 cents per share, a year earlier, but it was short of the 72 cents per share expected on Wall Street.
Income increased by 6% to 2.89 billion, above the $ 2.87 billion analysts surveyed by FactSet estimates.
Heinz also raised its dividend by 7% on Thursday and increased his prospects throughout the year.
In addition to the closure of the plant, Heinz also said it will approximately spend $ 160 million to improve its manufacturing and accelerate the productivity of the exercise.
Among these changes is the creation of a European channel pole offer the Netherlands to consolidate the power of procurement, manufacturing, logistics and inventory of lead.
Heinz also stated that the costs of raw materials, which include everything from fuel and plastic food ingredients of base, have become such a challenge that productivity enhancements alone will not compensate. The company, as most of the manufacturers of food, has already raised prices on some points but will make more increases in the future.
Heinz expects now fiscal 2012 earnings of $3.29 to $3.39 per share, excluding the productivity investments. The forecast is based on the projected exchange rate. Analysts predict earnings of $3.33 per share.
For fiscal 2013, Heinz anticipates earnings between $3.60 and $3.70 per share on a constant currency basis.
Heinz shares rose 43 cents to close Thursday at $53.82.
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Sarah Skidmore has contributed to this report from Portland, Oregon Michelle Chapman has contributed to this report from New York.
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