Herbalife (HLF) Closes N.C. Facility Acquisition; Sees Production Starting June 2014
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Price: $11.80 -3.2%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.8%
Revenue Growth %: +4.0%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.8%
Revenue Growth %: +4.0%
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Herbalife (NYSE: HLF) announced that its agreement to purchase a manufacturing facility in Winston-Salem, North Carolina, was completed on December 31, 2012.
The purchase of this facility further expands Herbalife’s global manufacturing capacity and is in line with the company’s stated strategy to increase self-manufacturing for its top products.
Over the next two years, Herbalife expects to invest in excess of $100 million on machinery & technology, as well as a complete retro-fitting of the existing facility to ensure it is in full compliance with U.S. Good Manufacturing Practices (cGMPs) for dietary supplements and food products.
Herbalife expects to begin production in this facility as early as June 2014 and estimates that approximately 500 new jobs will be created by the time it reaches full operations.
The purchase of this facility further expands Herbalife’s global manufacturing capacity and is in line with the company’s stated strategy to increase self-manufacturing for its top products.
Over the next two years, Herbalife expects to invest in excess of $100 million on machinery & technology, as well as a complete retro-fitting of the existing facility to ensure it is in full compliance with U.S. Good Manufacturing Practices (cGMPs) for dietary supplements and food products.
Herbalife expects to begin production in this facility as early as June 2014 and estimates that approximately 500 new jobs will be created by the time it reaches full operations.
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