Post Holdings, Inc. (OTCMKTS:POSTU) Files An 8-K Costs Associated with Exit or Disposal ActivitiesItem 2.05.Costs Associated with Exit or Disposal Activities.
On February 23, 2018, the Board of Directors (the “Board”) of Post Holdings, Inc. (the “Company”) approved the closure of the Company’s cereal manufacturing facility in Clinton, Massachusetts, reflecting the Company’s continuous improvement initiative to optimize its cereal production network and manage costs in the ready-to-eat cereal category. The Company will engage in discussions with the union representing the hourly employees at the Clinton facility to determine the impact to terms and conditions of employment for the unionized workers. The Company communicated the possible facility closure to potentially affected employees on February 26, 2018. The Clinton facility has approximately 180 employees.
The Board has delegated authority to the Company’s management to determine the final plan with respect to this initiative, assuming negotiations with the union are successful. Potential costs associated with this initiative may include severance costs, accelerated depreciation on certain property, plant and equipment and other associated costs. As management has not yet finalized the specific actions to be taken, the Company is unable to make a good faith estimate of (i) the amount or range of amounts of each major type of cost that will be incurred or (ii) the amount or range of amounts of costs that will result in future cash expenditures. When the Company is able to make a good faith estimate of the amount or range of amounts of each major type of cost, and the amount or range of amounts of costs that will result in future cash expenditures, it will file an amendment to this Current Report on Form 8-K and disclose the estimates.
A copy of the Company’s press release is attached to this report as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01.Financial Statements and Exhibits.
(d) Exhibits
See Exhibit Index.
Post Holdings, Inc. ExhibitEX-99.1 2 ex99-1xprclosureofclintonf.htm EXHIBIT 99.1 -PRESS RELEASE Exhibit Exhibit 99.1Post Holdings Announces Plan to Close Clinton,…To view the full exhibit click here
