ConAgra Foods To Take Charges Of $52 Million-$72 Million In FY10,FY11

ConAgra Foods Inc. (CAG) said it would incur pre-tax accounting charges in the range of $52 million to $72 million in fiscal 2010 and fiscal 2011 to close a production facility.

In a filing with the Securities and Exchange Commission, the company said it is closing a meat snacks production facility in Garner, N.C., and moving production to an existing plant in Troy, Ohio. The company's Garner facility has been operating under limited production capability since June 2009 when it was damaged in an accident. Since that time, the Troy facility has been producing a portion of the Company's meat snack products. The changes are expected to result in the termination of about 500 employee positions in Garner and the creation of about 200 employee positions in Troy.

-By Anjali Cordeiro, Dow Jones Newswires; 212-416-2200; anjali.cordeiro@dowjones.com

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