1 Jan

Green Mountain Coffee expands Tennessee operation

first_imgWATERBURY, Vt.–(BUSINESS WIRE)–Just months after opening its new manufacturing plant in Knox County, Tennessee, Green Mountain Coffee Roasters, Inc. (NASDAQ:GMCR) today announced that it will begin installation of coffee processing equipment in the facility. The equipment will be used for cleaning, storing and roasting green coffee as well as for blending and grinding roasted coffee. GMCR will be investing approximately $8 million for this project through the end of its fiscal year 2009, consistent with capital investment plans.Green Mountain Coffee will use the new roasting infrastructure to support its packaging lines from within the existing facility in Knox County. The facility primarily manufactures K-Cup® portion packs for the Keurig® Single-Cup Brewing System. This investment in our manufacturing capacity will allow us to continue to strengthen our infrastructure for the national expansion of our brands and our growth in the single-serve market, said Scott McCreary, COO of the Green Mountain Coffee segment of GMCR. The increased capacity through our packaging, and now our roasting and grinding, gives us added flexibility to support our projected growth over the next several years, and creates opportunities for longer-term efficiency gains.Green Mountain Coffee is in the process of evaluating roasting and grinding equipment suppliers for the project, taking into account its long-term capacity needs and operational efficiencies, as well as the overall environmental impact in alignment with its corporate social responsibility principles. The design and construction of a structure to hold the green and roasted coffee silos will begin in the spring of 2009 followed by work on the infrastructure. The integration of the equipment itself will begin in the summer of 2009 and is expected to be completed by early fall. As a leading specialty coffee company, roasting is the art and the science behind our great coffees, said Jon Wettstein, VP of Supply Chain Operations at Green Mountain Coffee. We have been extremely pleased with the quick ramp-up of the Knoxville facility and see roasting and grinding as a critical enhancement to our current operations. At the same time, we will continue to create process efficiencies within our facilities in Waterbury and Essex, Vermont.About Green Mountain Coffee Roasters, Inc.Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) is recognized as a leader in the specialty coffee industry for its award-winning coffees, innovative brewing technology and socially and environmentally responsible business practices. GMCR manages its operations through two wholly owned business segments: Green Mountain Coffee and Keurig. Its Green Mountain Coffee segment sells more than 100 high-quality coffee selections, including Fair Trade Certified ¢ organic coffees, under the Green Mountain Coffee® and Newman s Own® Organics brands through its wholesale, direct mail and e-commerce operations (www.GreenMountainCoffee.com(link is external)). Green Mountain Coffee also produces its coffee as well as hot cocoa and tea in K-Cup® portion packs for Keurig® Single-Cup Brewers. Keurig, Incorporated is a pioneer and leading manufacturer of gourmet single-cup brewing systems for offices, homes and hotel rooms. Keurig markets its patented brewers and K-Cups® through office distributors, retail and direct channels (www.Keurig.com(link is external)). K-Cups are produced by a variety of licensed roasters including Green Mountain Coffee. Green Mountain Coffee Roasters, Inc. has been recognized repeatedly by CRO Magazine, Forbes and SustainableBusiness.com as a good corporate citizen and an innovative, high-growth company.Forward-Looking StatementsCertain statements contained herein are not based on historical fact and are forward-looking statements within the meaning of the applicable securities laws and regulations. Owing to the uncertainties inherent in forward-looking statements, actual results could differ materially. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the impact on sales and profitability of consumer sentiment in this difficult economic environment, the Company s success in efficiently expanding operations and capacity to meet growth, the Company s success in receiving required approvals for the acquisition of Tully s wholesale business and then in efficiently and effectively integrating Tully s wholesale operations and capacity into its Green Mountain Coffee segment, competition and other business conditions in the coffee industry and food industry in general, fluctuations in availability and cost of high-quality green coffee, any other increases in costs including fuel, the unknown impact of management changes, Keurig s ability to continue to grow and build profits with its roaster partners in the office and at home markets, the impact of the loss of one or more major customers for Green Mountain Coffee or reduction in the volume of purchases by one or more major customers, delays in the timing of adding new locations with existing customers, Green Mountain Coffee s level of success in continuing to attract new customers, sales mix variances, weather and special or unusual events, as well as other risks described more fully in the Company s filings with the SEC. Forward-looking statements reflect management’s analysis as of the date of this press release. The Company does not undertake to revise these statements to reflect subsequent developments, other than in its regular, quarterly earnings releases.last_img read more

20 Jan

Patrons should see a real fight this time

first_img 43 VICTORIES Corley is a 41-year-old veteran from Washington, DC, who has had 70 fights, with a record of 43 victories, 26 losses and one draw. He has boxed all over the world and last fought in Denmark on February 26, scoring a tko victory over Osama Hadifi. He has fought for world titles several times, among them a loss to Zab Judah for the WBO super lightweight title in 2003 and another loss to Miguel Cotto for the same title in 2005. He also had a non-title fight loss to boxing kingpin, Floyd Mayweather Jr, in 2004. Azore has 16 victories, five losses and three draws in a career that started in December 2006 and saw him becoming the Guyanese welterweight boxing champion in December 2012. He has been inactive recently because of his inability to get fights, but has been training hard for several months since learning that he would be a challenger in the Contender series. He told The Gleaner yesterday that he is “fit, ready and confident” and is looking forward to a good fight. Two experienced boxers – DeMarcus ‘Chop Chop’ Corley from the USA and Iwan ‘Pure Gold’ Azore, a Guyanese-born fighter who lives in Trinidad and Tobago – will exchange punches tonight over five rounds in the second preliminary bout of the Wray and Nephew 2016 Contender Series. The action starts at 9 p.m. at the Chinese Benevolent Association auditorium, Old Hope Road, and will be broadcast live on Television Jamaica. Last week, spectators left the venue bemused and disappointed when after only 55 seconds, one of the boxers, 19-year old Xzaviar Ford from North Carolina, USA, suffered a torn tendon in his right shoulder and could not continue, gifting the bout to his opponent, Jamaican Richard Holmes, who was declared the winner by technical knockout. The promoters and sponsors were very disappointed with the outcome and have made an effort to have a better line-up this week. Corley, who was not on the original list of boxers selected to appear this year, was recruited a few days ago to join the USA team in their bid to defeat the Caribbean team. The format of the competition is that there are eight boxers on each team – the Caribbean and the USA – respectively. A draw is then used to select the opponents from both camps, and they will challenge each other over five rounds, with the winners moving on to the quarter-finals, the semi-finals and then the final. The eventual winner of the competition takes home $2 million, the runner-up $500,000, third $250,000 and fourth $200,000.last_img read more