Campbell's Soup products stand on a store shelf on September 11, 2008 in Arcadia, California. The Campbell Soup Co. reported a 46 percent jump in profits from a year ago. Campbell raised its prices for many products and also benefited from an extra week in the latest reporting period. For the quarter ending August 3, their net income was $89 million, or 24 cents a share, up from a net income of $61 million, or 16 cents a share, in the same quarter last year. (Photo by David McNew/Getty Images)
The soup maker said Thursday that it will close a plant in Sacramento, Calif., that has about 700 full-time workers.
It also plans to shutter a spice plant in South Plainfield, N.J., that has 27 employees.
The California plant is expected to close by July 2013, while the New Jersey plant is anticipated to close by March 2013. Campbell Soup Co. currently has about 19,900 employees globally.
The Camden, N.J.-based company expects the closings to result in about $115 million in pre-tax costs.
Its actions will also require approximately $27 million in capital spending. Annual savings are predicted to be about $30 million starting in fiscal 2016.
(Copyright 2012 by The Associated Press. All Rights Reserved.)