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ATCHISON, Kan. - MGP Ingredients is closing another manufacturing plant as it tries to streamline operations in a tough economy.
| MGPI | 0.84 |  0.02 |
The company said late Wednesday it will consolidate its wheat protein and starches operations at its headquarters plant in Atchison, effective Nov. 12.
That will require closing a manufacturing plant in Pekin, Ill., affecting 70 to 80 jobs through a combination of layoffs and early retirement.
Last month, MGP Ingredients announced it was closing its flour mill in Atchison, forcing the layoff or early retirement of 44 people.
The company said it expects to take a $6.9 million non-cash charge for the closings, as well as pay $2.5 million in severance costs. It also will lose $3 million selling excess wheat but make up $1.2 million in deferred gains.
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