Oakland Nabisco Plant Closing
OAKLAND, Calif. (AP) _ Nabisco Brands Inc. officials said they are closing a 74-year-old cereal plant in Oakland due to a highly competitive cereal market.
More than 100 employees will be put out of work by the move announced Tuesday.
Officials refused to release sales or production figures for the plant, which produces Shredded Wheat cereals and crackers.
Food industry experts say increased competition in the last five years has pressured companies like Nabisco.
″Cereal has historically been a high-margin business, but in recent years there’s been a flood of competition,″ said Manny Goldman, a food-industry analyst for PaineWebber in San Francisco.