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:9/21/2017)... ... September 21, 2017 , ... With ProSlideshow Portrait from Pixel Film Studios ... Users can select from up to two layers of subject matter along with fully ... all within Final Cut Pro X. , With ProSlideshow Portrait each user ...
(Date:9/21/2017)... ... September 21, 2017 , ... Process Capability ... p.m. – 3:00 p.m. ET, http://www.fdanews.com/processcapabilityindices      , Quality ... run afoul of The Quality System Regulation (§820.250), and Devicemakers find themselves staring ...
(Date:9/21/2017)... ... September 21, 2017 , ... The ... Behavioral Health Services for professionals in the addiction treatment industry entitled: Special ... , Insurance companies and state and federal governments are increasingly scrutinizing the ...
(Date:9/21/2017)... ... September 21, 2017 , ... Hair ... new member survey conducted by the International Society of Hair Restoration Surgery ... to 2016 rose 60 percent, with 635,189 procedures performed in 2016. , ...
(Date:9/21/2017)... ... September 21, 2017 , ... Bill Howe Plumbing’s mission is to create ... back to the community. For over 37 years, they have operated with their mission ... plumbing in San Diego. They were chosen as the Best San Diego plumber ...
Breaking Medicine News(10 mins):
(Date:9/12/2017)... FRANCISCO , Sept. 12, 2017  ValGenesis ... Management Solutions (VLMS), is pleased to announce the ... a member of its Board of Directors and ... ValGenesis VLMS enables life science companies to manage ... the use of paper in this process. Furthermore, ...
(Date:9/7/2017)... , Sept. 7, 2017  For nearly two decades, New Life Agency ... Assisted Reproduction Insurance industry. Today, New Life Agency announces a powerful three-way ... ... ... http://pharmacarecard.com/ (PRNewsfoto/PharmaCareCard) ...
(Date:9/6/2017)... SAN ANTONIO , Sept. 6, 2017  Robert ... as a Pinnacle Professional Member in recognition of his ... Dr. Szewc serves as a Nephrologist at the practice ... services, emergency medicine, kidney care and hypertension solutions. He ... over 20 years of career experience, as well as ...
Breaking Medicine Technology: