McCormick, a US-based spices and seasonings manufacturer, has unveiled several initiatives in the Europe, Middle East and Africa (EMEA) markets, as part of its Comprehensive Continuous Improvement program (CCI).
The company stated that it will accelerate its efforts to further improve productivity, process standardization and cut costs in the regions.
As part of the program, the company will shut its current operation in the Netherlands, where a third party will continue to distribute the Silvo brand as well as streamline selling, general and administrative activities.
With this development, McCormick expects to record approximately $27m of charges related to the plan with approximately $25m to be recorded this year.
Launched in 2009, the CCI program is an ongoing initiative to improve productivity across the organization. The company has achieved more than $200m in annual costs savings through 2012. It expects to deliver at least $55m of additional cost savings this year.
