Pathfinder
Editor, Senior Moderator
[h=1]Post Holdings Provides Additional Avian Influenza Update[/h] ST. LOUIS, May 27, 2015 (GLOBE NEWSWIRE) -- Post Holdings, Inc. (NYSE
OST), a consumer packaged goods holding company, today provided an update with respect to the recent avian influenza ("AI") outbreak affecting Post's egg business:
OST), a consumer packaged goods holding company, today provided an update with respect to the recent avian influenza ("AI") outbreak affecting Post's egg business:- A third Company owned chicken flock in Nebraska has tested positive for AI. This brings the total affected supply to approximately 35% of the Company's volume commitments as determined prior to the recognition of force majeure.
- As reported on May 14, 2015, Post management has determined that the ongoing AI outbreak constitutes a force majeure event with respect to its Michael Foods egg business, the effect of which renders Michael Foods unable to fully perform under its existing supply agreements with customers.
- Michael Foods continues to take various effective measures to partially mitigate the financial impact, including discontinuation of certain product lines and appropriate pricing actions.
- The financial impact of the above is being estimated at this time.
- ...
- http://www.postholdings.com/newsroom/post-holdings-provides-additional-avian-influenza-update-0