Dean Foods ending production at Shreveport plant: 170 jobs lost

[TexasTowelie]

Dean Foods employees today learned the company will end production at its Shreveport fluid dairy plant, Oak Farms, resulting in the loss of 170 jobs.

“Production will be phased out over the next two months, and we expect the plant will close in mid-May,” a company statement says. Dean Foods plans to keep about 25 positions for local distribution and sales.

“We will move the current production volume to other regional Dean Foods facilities, and Oak Farms products will continue to be available in Shreveport,” the statement says.

The closure of the Oak Farms plant — which primarily produces dairy items including milk, creamers and ice cream as well as various juice products — will bring the total number jobs lost in recent months in the Shreveport area to approximately 1,972. Other notable layoff announcements of late include PrintPack, 143, Libbey Glass, 200, Northwest Supports and Services Center, 286, and Christus Schumpert Health System, 84.

More at http://www.shreveporttimes.com/article/20130315/NEWS01/130315033/Shreveport-plant-close-idling-170?odyssey=mod|breaking|text|FRONTPAGE&nclick_check=1 .

[pepperbear]

1. last two paragraphs say it all.

The decision to close the Shreveport plant also came a day after investment management and research firm Sanford C. Bernstein reaffirmed the strength of Dean Foods’ stock. Shares were at $21 today, $3 higher than Thursday, when the Sanford C. Bernstein research notes were released.

In its quarterly earnings report released in mid-February, Dean Foods says it had revenue increases of roughly 3.7 percent compared to the same time frame in 2012.