Imperial's Restructuring Plans Following Takeover

Source from:  worldtobacco.co.uk 20 June 2008 07/24/2008

Imperial Tobacco has announced a number of restructuring projects in Europe, which it proposes to implement progressively over the next three years as part of its integration with Altadis. The projects affect sales and marketing, manufacturing and central support functions in a number of markets, and aims to strengthen the enlarged group's competitive position. The enlarged group employs around 40,000 people worldwide. The restructuring projects will potentially reduce this number by around 2,440. The group proposes to close six factories within its global portfolio of 58 manufacturing facilities and reorganise operations at a number of other sites. It is also proposed to reorganise sales and marketing and central support functions including human resources, finance and corporate affairs in a number of markets. There is no impact on the logistics business. Employees, works councils and trade unions have been informed of the projects and the consultation process is underway. Gareth Davis, Chief Executive of the company, said: "The projects are a necessary step in the process of integrating Imperial Tobacco and Altadis, and will ensure that we create a strong and sustainable future for the enlarged group. "Any announcement that involves job losses is regrettable and our immediate focus is on supporting our employees. We have a track record of treating our employees fairly and responsibly and we will ensure that the consultation process is conducted in a transparent and considerate manner." Enditem