The J.M. Smucker Company to Build New Facility in Scottsville, KY
ORRVILLE, Ohio, FRANKFORT, Ky., and SCOTTSVILLE, Ky., Dec. 20 PRNewswire-FirstCall/ -- The J.M. Smucker Company (NYSE: SJM - News), the Kentucky Cabinet for Economic Development, and the Scottsville-Allen County Industrial Development Authority, jointly announced today that Smucker intends to build a new production facility in Scottsville, a community of approximately 4,700 residents located in south central Kentucky.
The new state-of-the-art facility will produce Smucker's Uncrustables®, a line of thaw 'n serve peanut butter and jelly sandwiches. Introduced in 1998, Uncrustables sandwiches are available in retail grocery and club stores, as well as through school lunch programs. Sales of the Uncrustables sandwiches have grown steadily since their introduction, and strong sales are expected to continue as the Company expands the product line into new markets. The new facility will help meet growing capacity requirements while providing a more central location for suppliers and eastern- and southern-based customers. Smucker currently operates two other Uncrustables facilities.
"We are excited about the opportunity to become part of the Scottsville community", said Tim Smucker, chairman and co-CEO of The J.M. Smucker Company. "With their partnership, we will be able to support the growth of the Uncrustables brand and better serve our customers. We look forward to working together with the people of Scottsville to achieve these goals."
"The state's burgeoning food industry is a testament to Kentucky's commitment to creating a prosperous and diverse economy," stated Governor Patton. "We are targeting industries in growth sectors, and Allen County stepped up to the plate to partner with us." Gene Strong, Secretary of the Kentucky Cabinet for Economic Development stated, "We are very serious about putting state resources where they will have a definite impact on the future of Kentucky's economy; and we are pleased to have The J.M. Smucker Company choose Kentucky as the site of a new facility."
John Emery, Chairman, Scottsville-Allen County Industrial Development Authority said, "The J.M. Smucker Company is one of America's premier corporate citizens. Smucker represents the traditional values of this region. We are delighted Smucker has decided to join the growing number of companies in our community."
Smucker expects to break ground on the 50-acre site in Spring 2003, with production to begin in Spring 2004. The new $51 million facility is expected to bring approximately 150 new jobs to the Scottsville area and contribute approximately $4 million per year in wages and benefits. This will be the second Smucker location in Kentucky, joining Smucker's Jif® peanut butter facility in Lexington.
The J.M. Smucker Company ( www.smuckers.com ) was founded in 1897 when the Company's namesake and founder sold his first product -- apple butter -- from the back of a horse-drawn wagon. Today, over a century later, the Company is the market leader in fruit spreads, ice cream toppings, health and natural foods beverages, and natural peanut butter in North America. In June of this year, the Company further enhanced its leadership position with the addition of Jif peanut butter and Crisco shortening and oils to the Smucker family of brands. For over 100 years, The J.M. Smucker Company has been headquartered in Orrville, Ohio, and has been family run for four generations. The J.M. Smucker Company has over 2,700 employees worldwide and distributes products in more than 45 countries.
This press release contains certain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. These include, but are not limited to, statements regarding anticipated growth of Uncrustables, estimates of employment and related payroll, the exact time frame in which the new facility will be completed and placed into operation, increases in construction costs, and possible regulatory or environmental issues. Other risks and uncertainties that may materially affect the Smucker Company are detailed from time to time in the respective reports filed by the Company with the Securities and Exchange Commission, including Forms 10-Q, 10-K, and 8-K.
All trademarks referred to in this release are the property of The J.M. Smucker Company.
Source: J.M. Smucker Company
