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Ontario’s Food Manufacturing Industry Takes another Hit: Kellogg’s Closings its London, Ont. Plant End of 2014

By Amanda Brodhagen, Farms.com

Kellogg’s announced Tuesday that it is shutting down its London, Ontario plant at the end of next year.

Workers were called to a meeting where they were given the news. The London facility employs more than 500 workers.

The company revealed in its last quarterly report that it was launching a program called – Project K – aimed at increasing overall efficiency, which included an evaluation of possible plant consolidations.

Kellogg makes about 27 cereals in its London location, which include: Corn Flakes, Frosted Flakes, Bran Buds, Bran Flakes and Raisin Bran.

The closure announcement comes after Heniz said last month that it was shutting down its Leamington, Ont. plant cutting 740 jobs.  
 


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The 12-day war between Iran-Israel came to an end sending crude oil futures plunging as the big fund speculators removed the war risk premium.

The weather risk premium in the Ag complex is sending corn, wheat and soybean futures lower on month-end selling ahead of the market moving USDA quarterly grain stocks and acreage reports on June 30th.

Instead, funds were chasing and sending tech stocks higher with the S&P 500/NASDAQ indexes setting new all-time record highs!

June 1 USDA Hogs and pigs report was slightly bearish while the U.S. $ Index traded to new contract lows as the de-dollarization that began in 2014 continues.

Feed in the form of soybean meal futures for livestock producers got cheaper, trading to new contract lows.

The Stats Canada seeded acreage update was bullish canola and wheat.