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Merger with Folgers means addition or a new building
By Betty Lin-Fisher
Beacon Journal business writer
Published on Friday, Oct 31, 2008
With next week's pending merger of the J.M. Smucker Co. (NYSE: SJM) and Folgers Coffee, the Orrville-based food company will be growing by employees and in size.
Smucker officials on Thursday said the company will be adding space to its Strawberry Lane campus in Orrville. The company has not decided whether it will construct an addition or a separate building on the site, which currently has four office buildings and a plant.
The company has 90 acres at its Orrville headquarters; 10 acres are being used.
The food company, best known for jams and jellies, will need the extra space as it adds 150 to 200 employees at its headquarters in the next year. The growth can be attributed to the Folgers merger as well as overall growth at the company, said spokeswoman Maribeth Badertscher. That's in addition to the 1,300 employees already on campus.
As part of the Folgers deal, Smucker will gain 1,250 new employees, mostly at four plants in New Orleans, Kansas City, Mo., and Sherman, Texas. There's also a distribution center in New Orleans and offices in Cincinnati.
Some employees will be moving from Cincinnati to Orrville, though exact numbers haven't been released. Before the merger, Smucker had about 3,500 employees.
Hires will be needed in such areas as information services, marketing and sales, accounting and finance, customer service and supply chain and logistics. The company's Web site, http://www.smucker.com, will be updated within the next few weeks to include new job postings, Badertscher said. Applicants can also submit their resumes online.
Hiring has begun — with the help of some recruiting companies — and will continue for the next year to 18 months, Badertscher said.
The addition or new building will probably take 12 to 24 months to complete, said Smucker Co-Chief Executive Tim Smucker.
Smucker said it is important for the company to have employees on one campus.
''We have a big emphasis on person-to-person contact, even in the days of e-mails and voice mails,'' said Smucker, who is chairman of the board and co-chief executive with his brother, Richard.
At a time when other companies are announcing layoffs, Badertscher said Smucker's growth with Folgers and within the company is a bright spot.
''Our company is definitely growing and a positive in Northeast Ohio,'' she said.
Badertscher estimated that over the last six years, with the latest 150 to 200 hires, the company will have added 500 jobs.
The Smucker-Folgers merger is expected to close on Thursday. Folgers is being acquired from Cincinnati-based Procter & Gamble. The merger will create a new Smucker based in Orrville.
The all-stock deal is valued at $3.3 billion. Sales are expected to increase from $2.5 billion to $4.7 billion by the end of the 2009 fiscal year.
Betty Lin-Fisher can be reached at
330-996-3724 or blinfisher@
thebeaconjournal.com.
With next week's pending merger of the J.M. Smucker Co. (NYSE: SJM) and Folgers Coffee, the Orrville-based food company will be growing by employees and in size.
Get the full article here.
Comments
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Posted 12:10 PM, 10/31/2008
At least someone in Ohio is GROWING in our great economy, thank you SLICK WILLY for ruining OUR ECONOMY FOREVER!!!!!!!!
Wheaton, IL
Posted 01:05 PM, 10/31/2008
Kudos to Smuckers.
Orrville, Oh
Posted 03:56 PM, 10/31/2008
J. M. Smucker stockholders (money marketers) plans to scam Fathers disqualified for affirmative action with white skin, Union workers, consumers, taxpayers, and Americas grandchildren, low income workers, volunteers without wages, and nonunion parasites willing to work for fewer wages than they can afford life. To pay for the more stock dividends (money) J. M. Smucker stockholders market quarterly in the wholesale and retail price of Folgers coffee. And fund Folgers employee’s left jobless, homeless, indigent, and without a means to love, nurse, nurture, discipline, protect, and provide for the children (jobs) they conceived. Paying for everything they need for life with welfare checks, food stamps, housing vouchers, and Medicaid!
Posted 04:38 PM, 10/31/2008
???
Posted 09:38 AM, 11/01/2008
Loren, that is the most incoherent thing I have ever read, are you voting for Obama?
