Today they announced to the Fullerton mill personnel that it’s 1 of the 10 manufacturing facilities to close per the global restructuring program.
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So Trump announces Cuts in corporation tax to encourage growth, many companies pass on
this windfall in the form of bonuses, but Kimberly Clark use it to fund lay offs. Next they plan to
buy back shares, just like last year, when they bought at over$130 only to to see the price tumble to $108. This was just after Tom Falk was given thousands of share options at $90 and was a self interested attempt to cash in on those options. He has no real passion for Kimberly Clark only for
maintaining his overpaid position until he retires by which time all that will be left is a hollow shell!
Hope it’s not Northfleet in the Uk
Flint and Barrow mills could be next. In the UK
Look at Neenah Cold Spring they make 100% of Adult Diapers for NA and they decided to close it. Chester making 60% of consumer tissue doesn’t seem to make a difference. Seems like they are targeting union mills.
The question is when will be hear about mills outside the US?
KC plan to close Two in fox Valley Wisconsin - 600 jobs to be cut
Look at the news articles the to areas they talk about are consumer tissue which is what Chester makes and diapers. I'm just speculating it may not be on the chopping block but it's an old mill that's one of the higher costs to operate. It's also a union mill which seems to be what they're going after first. They may go the opposite route and consolidate everything into Chester. The only mills that I can pretty much guarantee are safe would be Jenks, Beech Island, and Owensboro. Those three are cash cows.
Why would the Chester plant close it makes at least 60% of NA tissue- Neenah at 4 plants in one facility
Not surprising. It's got to be the highest operational cost in NA. If they're trying to cut costs on tissue and diapers I'd bet New M---ord and Chester won't be far behind.
land is probably worth more than the equipment there