Campbell Soup Co. announced it will sell its Australian
snack foods business and close a plant in Canada in order to cut costs and
focus on its core businesses such as soup.
Campbell
said it expects these actions to modestly boost earnings in fiscal year 2009. The
Canadian plant in Listowel,
Ontario, employs about 500 people
and makes frozen products, including soup, entrees and Pepperidge Farm
products, as well as ramen noodles. Campbell
said it will operate the plant for 12 months and then transfer production to
contract manufacturers and its Downingtown,
Penn., facility.
