Cost reduction programme

RNS Number : 5551N

C&C Group Plc

19 February 2009

 



Programme to reduce operating costs

CCR.I        CCR.L

Dublin, London, 19 February 2008:  C&C Group plc ('C&C or the 'Group'), today announced a programme to reduce operating costs across the business in Ireland.

C&C will deliver savings through a series of initiatives including the restructuring of the sales force in Ireland, and a reduction in headcount across a range of functions at the Group's manufacturing facility in Clonmel. C&C also plans to merge its Dublin operations into one consolidated office.

120 employees are impacted by today's announcement, and it is anticipated that the programme will be finalised by June 2009. Management will work with employees and the relevant agencies to help minimise the impact of the programme.

Stephen Glancey, Chief Operating Officer of C&C Group commented: "This is a difficult day for C&C and our thoughts are focused on the employees affected by today's developments. The Group continues to face very difficult trading conditions in both its primary markets. This is compounded by continuing competitive pressure in the Group's core cider business and a loss of market share in both Ireland and Great Britain. While these decisions are deeply regrettable, they are essential to ensure that we improve our competitiveness in the face of current market challenges."

C&C will issue a 2008/09 full year trading update on 3 March 2009.

ENDS.

For further information, please contact:

Stephen Glancey, Chief Operating Officer        Ph: [phone]

Kenny Neison, Strategy Director                       Ph: [phone]

or 

Investors and Analysts	Irish Media	International Media
Mark Kenny or Jonathan Neilan K Capital Source Tel: [phone] Email :c&[e-mail]	Paddy Hughes or Anne-Marie Curran Drury Communications Tel:    [phone] Email: [e-mail]	Edward Orlebar or Marylene Guernier M Communications Tel:    [phone]/1269 Email: [e-mail]    [e-mail]

About C&C Group plc

C&C Group plc is a manufacturer, marketer and distributor of branded beverages in Ireland and the UK. C&C manufactures the Irish cider brand, Bulmers, and the international cider brand, Magners, for export to the United Kingdom, the United States and Continental Europe. C&C also exports Spirits & Liqueurs, including the premium Irish whiskey brand, Tullamore Dew, to over 80 international markets.

 

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