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Weider Selling Powder Manufacturing Facilities to Cornerstone Nutritional
May 28, 2001
1 Min Read
Weider Selling Powder Manufacturing Facilities to Cornerstone Nutritional
SALT LAKE CITY--Weider Nutrition International on May 9 closedthe sale of its powders manufacturing facilities to Cornerstone Nutritional LabsLC. The $5.5 million cash sale will assist Weider in reducing its investmentbase and debt, with no expected increase in product cost.
According to Bruce Wood, president and chief executive officer (CEO) ofWeider, the sale is part of the companys ongoing review of efficiencies ofall its divisions. We concluded that by outsourcing our powders business wecan obtain equivalent high quality products at very competitive costs, hesaid.
Cornerstone Nutritional is a privately held contract manufacturer based inSalt Lake City. Calls to the company were not answered.
For more information, visit www.weider.com.
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