General Mills, which owns Yoki, must close factories in Brazil

The American food maker General Mills, owner of global brands like Häagen-Dazs, Nature Valley and Yoplait, and Yoki and Kitano, sites submitted to the Securities and Exchange Commission (SEC) a proposal for a restructuring that includes the sale of assets in Brazil.
The company reported that it intends to eliminate excess capacity and, to this end, will close the factories in Marília (SP) and São Bernardo do Campo (SP). The company also plans to shut down the production of low-performance products in the region of Nanjing, China.
The closure of the units must be completed by the end of August. This decision will cause cutting 420 jobs in Brazil and 440 places in greater China.
The expectation of the company with the restructuring is to have a total charge of $ 42,000,000 with the restructuring, including $ 8,000,000 with shutdown and $ 33,000,000 in asset impairment charges.
Of this amount, $ 32,000,000 are already discounted in the balance sheet of the next quarter. The company reported that still aims to complete the restructuring by the end of the fiscal year 2017, which ends in May next year.
In the first fiscal quarter, the company had already announced the closure of a plant in Vineland, in the United States, with 370 cutting jobs and expenses rescisórias $ 18,000,000. General Mills also decided to sell a factory in Martel, Ohio, which produces dry mixes for the restaurant chain for $ 18,000,000 in money.
General Mills announced in December last year the purchase of brazilian maker of yoghurts, Carolina. Before that, acquired in 2012 the Yoki foods, more than doubling its sales in Latin America.