Navigation Links
NutraCea Announces Reduction in Workforce in U.S. Operations
Date:1/15/2010

PHOENIX, Jan. 15 /PRNewswire-FirstCall/ -- NutraCea (OTC: NTRZ), a world leader in stabilized rice bran (SRB) nutrient research and technology, today announced a 17% reduction in its U.S. workforce as part of management's continuing efforts to improve the company's cost structure. The reduction, which is anticipated to save NutraCea approximately $1 million annually, does not impact the workforce at Irgovel, NutraCea's Brazilian subsidiary.

W. John Short, Chairman & CEO of NutraCea, said, "We deeply regret having to make this difficult but necessary decision as we continue to restructure the Company.  Our goal continues to be to reduce costs and increase profitable sales in an effort to enhance our liquidity and become cash flow positive in the second half of 2010."  Short added, "I want to thank the employees affected by this reduction for their dedication and efforts on behalf of NutraCea and wish them the best in their future endeavors."

On November 10, 2009 NutraCea filed for court supervised protection to restructure its operation under Chapter 11 of the US Bankruptcy Code.

About NutraCea

NutraCea is a world leader in production and utilization of stabilized rice bran. NutraCea holds many patents for stabilized rice bran (SRB) production technology and proprietary products derived from SRB. NutraCea's proprietary technology enables the creation of food and nutrition products to be unlocked from rice bran, normally a waste by-product of standard rice processing. More information can be found in the Company's filings with the SEC and by visiting our website at http://www.NutraCea.com.

Forward-Looking Statements

This release contains forward-looking statements, including statements regarding the anticipated savings from the company's reduction in force, other actions to reduce the company's costs, increase liquidity and increase profitable sales, and the efforts of the company to become cash positive in the second half of 2010. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to the possibility that some or all of the pending matters considered by the Company may not proceed as contemplated and the matters specified in the Company's filings with the Securities and Exchange Commission. These statements are made based upon current expectations that are subject to risk and uncertainty. The Company does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward- looking information. Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in the Company's filings with the Securities and Exchange Commission, including the Company's most recent periodic report.

SOURCE NutraCea

RELATED LINKS
http://www.nutracea.com

'/>"/>

SOURCE NutraCea
Copyright©2010 PR Newswire.
All rights reserved

Related medicine news :

1. NutraCea Announces Forbearance Agreement With Bank and Provides Update on Business Strategy and Transactions
2. NutraCea Announces Additions to Management Team; Chief Operating Officer Extends Employment Contract
3. NutraCea Names James C. Lintzenich As Interim CEO
4. NutraCea to Restate Financial Statements for 2007 and 2008
5. NutraCea, FedEx and Feed The Children Team Up to Provide Food Aid to Families in Need in Brazil
6. NutraCea Announces Third Quarter 2008 Financial Results
7. NutraCea Announces Third Quarter 2008 Conference Call
8. Mike Bridges Takes Home Four Gold Medals at IPF Masters World Powerlifting Championships; Says NutraCeas RiSolubles(R) is an Essential Part of his Training Regimen
9. U.S. Chamber Recognizes NutraCea for Strong Corporate Stewardship
10. NutraCea Announces First Quarter 2008 Financial Results
11. NutraCea to Host First Quarter 2008 Conference Call on May 12.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/9/2016)... ... 2016 , ... United Methodist Communications collaborated with Chocolate Moose ... video designed to prevent the next widespread Ebola outbreak from occurring ... distributed throughout Togo, Liberia, Sierra Leone, Nigeria, Côte d’Ivoire and other African countries, ...
(Date:2/9/2016)... (PRWEB) , ... February 09, 2016 , ... ... Mammal Prize has officially been won. A team from 21st Century Medicine (21CM) ... a way to preserve the delicate neural circuits of an intact rabbit brain ...
(Date:2/8/2016)... , ... February 08, 2016 , ... Coast Dental has ... is National Children’s Dental Health Month and family dentist Yvonne Dorrian, DMD, is hosting ... Coast Dental , located next to Target at 1207 North Peachtree Parkway in ...
(Date:2/8/2016)... ... February 08, 2016 , ... ... case packer for pouches, bags, and flow wrapped products at WestPack 2015, February ... specialty product manufacturers step up to semi-automatic or fully-automatic case packing with a ...
(Date:2/8/2016)... ... February 08, 2016 , ... The ... has selected the latest beneficiary of their ongoing community enrichment program. The current ... in area schools. Donations are now being accepted at: http://www.angelsanddoves.com/donate.html . , ...
Breaking Medicine News(10 mins):
(Date:2/8/2016)... --> --> ... Technologies Market by Product (Radiofrequency, Ultrasound, Irreversible Electroporation, Cryotherapy, ... Ophthalmology, Gynecology) - Global Forecasts to 2020", published by ... forecast period of 2015 to 2020. The market is ... of 10.5% from 2015 to 2020. Browse ...
(Date:2/8/2016)... , Feb. 8, 2016 ... the "Global Skin Protective Equipment Market 2016-2020" ... --> http://www.researchandmarkets.com/research/fqx6nz/global_skin ) has announced the addition ... 2016-2020" report to their offering. ... ) has announced the addition of the ...
(Date:2/8/2016)... a historic vote among its members this weekend, the Shinnecock Indian Nation ... and dispensary on tribal land near Southampton . ... for patients in the state,s Medical Cannabis Program. --> ... in the state,s Medical Cannabis Program. --> Tribal members ... designation from the State of New York as ...
Breaking Medicine Technology: