MGP Ingredients Reveals Planned Closure Of Its Distillery In Atchison, Kansas
Portfolio Pulse from Shivani Kumaresan
MGP Ingredients Inc (NASDAQ:MGPI) plans to close its distillery in Atchison, Kansas by January 2024. The distillery produces grain neutral spirits and industrial alcohol products. The closure is part of the company's strategy to address profitability issues in its Distilling Solutions segment. MGP will continue to operate and invest in its Ingredient Solutions business in Atchison, Kansas and its distillery operations in Lawrenceburg, Indiana.
July 13, 2023 | 2:57 pm
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POSITIVE IMPACT
MGP Ingredients Inc's decision to close its Atchison distillery could potentially improve profitability in its Distilling Solutions segment. The company's shares are currently trading higher.
The closure of the distillery is a strategic move by MGP Ingredients Inc to address profitability issues in its Distilling Solutions segment. This could potentially lead to improved financial performance for the company, which is likely why the company's shares are currently trading higher.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100