The H. J. Heinz Company said today it is providing monetary and in-kind
assistance for the relief and recovery efforts in China’s
Sichuan Province following the devastating earthquake that hit the
region on Monday.
Heinz operates a factory in Chengdu, the capital of Sichuan Province,
which produces frozen appetizers, dim sum and desserts under the Long
Fong brand name.
“While we are thankful that none of our
employees or their family members were injured during the earthquake,
our hearts go out to the thousands of victims of this tragic event,”
said William R. Johnson, Heinz Chairman, President and CEO. “We
feel it is our moral obligation as a corporate citizen in Sichuan to do
whatever we can to help bring comfort and relief to those who have been
impacted by this catastrophe.”
Heinz will donate $350,000 to the relief efforts, including $100,000 in
cash from its Foundation and $250,000 in cash and in-kind from Heinz
UFE. Heinz’s Long Fong Chairman Hector Yeh
has pledged a significant personal donation, and has reached out to his
network of contacts to secure additional donations of money and food.
Mr. Yeh said that there does not appear to have been any damage to the
Company’s factory or warehouse facilities.
Nonetheless, he said production will not re-start until the danger of
aftershocks has passed and the plant has been deemed 100 percent safe.
He added that employees will continue to receive their regular salary.
SAFE HARBOR PROVISIONS FOR FORWARD-LOOKING STATEMENTS:
This press release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are generally
identified by the words "will," "expects," "anticipates," "believes,"
"estimates" or similar expressions and include our expectations as to
future revenue growth, earnings, capital expenditures and other
spending, as well as anticipated reductions in spending. These
forward-looking statements reflect management's view of future events
and financial performance. These statements are subject to risks,
uncertainties, assumptions and other important factors, many of which
may be beyond Heinz's control, and could cause actual results to differ
materially from those expressed or implied in these forward-looking
statements. Factors that could cause actual results to differ from such
statements include, but are not limited to:
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sales, earnings, and volume growth,
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general economic, political, and industry conditions,
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competitive conditions, which affect, among other things, customer
preferences and the pricing of products, production, and energy costs,
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increases in the cost and restrictions on the availability of raw
materials, including agricultural commodities and packaging materials,
the ability to increase product prices in response, and the impact on
profitability,
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the ability to identify and anticipate and respond through innovation
to consumer trends,
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the need for product recalls,
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the ability to maintain favorable supplier relationships,
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currency valuations and interest rate fluctuations,
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changes in credit ratings and economic conditions and the impact of
these factors on the cost of borrowing and access to capital markets,
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our ability to effectuate our strategy, which includes our continued
evaluation of potential acquisition opportunities, including strategic
acquisitions, joint ventures, divestitures and other initiatives,
including our ability to identify, finance and complete these
initiatives, and our ability to realize anticipated benefits from them,
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the ability to successfully complete cost reduction programs and
increase productivity,
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the ability to effectively integrate acquired businesses, new product
and packaging innovations,
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product mix,
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the effectiveness of advertising, marketing, and promotional programs,
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supply chain efficiency,
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cash flow initiatives,
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risks inherent in litigation, including tax litigation,
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economic or political instability in international markets,
particularly in Venezuela, and the performance of business in
hyperinflationary environments,
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changes in estimates in critical accounting judgments and changes in
laws and regulations, including tax laws,
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the success of tax planning strategies,
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the possibility of increased pension expense and contributions and
other people-related costs,
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the potential adverse impact of natural disasters, such as flooding
and crop failures,
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the ability to implement new information systems, and
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other factors described in "Risk Factors" and "Cautionary Statement
Relevant to Forward-Looking Information" in the Company's Form 10-K
for the fiscal year ended May 2, 2007.
The forward-looking statements are and will be based on management's
then current views and assumptions regarding future events and speak
only as of their dates. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, except as required by the
securities laws.
ABOUT HEINZ: H. J. Heinz Company, offering “Good
Food Every Day”TM is
one of the world’s leading marketers and
producers of healthy and convenient foods specializing in ketchup,
sauces, meals, soups, snacks and infant/nutrition. Heinz provides
superior quality, taste and nutrition for all eating occasions whether
in the home, restaurants, the office or “on-the-go.”
Heinz is a global family of leading branded products, including Heinz®
Ketchup, sauces, soups, beans, pasta and infant foods (representing over
one third of Heinz’s total sales), Ore-Ida®
potato products, Weight Watchers® Smart Ones®
entrees, Boston Market® meals, T.G.I. Friday’s®
frozen snacks, and Plasmon®
infant nutrition. Heinz is famous for its iconic brands on five
continents, showcased by Heinz® Ketchup, The
World’s Favorite Ketchup®.
Information on Heinz is available at www.heinz.com.
