SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
June 7, 1996
McCORMICK & COMPANY, INCORPORATED
(Exact name of registrant as specified in its charter)
Maryland 0-748 2-0408290
(State or other (Commission (IRS Employer
jurisdiction) File Number) Identification No.)
18 Loveton Circle
Sparks, Maryland 21152
(Address of principal (zip code)
executive offices)
Registrant's telephone number, including area code: (410) 771-7301
Item 5. Other Events.
On June 7, 1996, the Registrant issued a press release which
is filed as Exhibit 99 hereto and incorporated herein by reference.
Item 7. Financial Statement and Exhibits.
(c) Exhibits
99. Copy of the Registrant's press release referred to
in Item 5.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
McCORMICK & COMPANY, INCORPORATED
/s/Carroll D. Nordhoff
Carroll D. Nordhoff
Executive Vice President
DATE: June 12, 1996
EXHIBIT 99
FOR IMMEDIATE RELEASE
McCORMICK ANNOUNCES ACTIONS RESULTING FROM PORTFOLIO REVIEW
SPARKS, MD, June 7 -- Continuing its current focus on
portfolio management, McCormick & Company, Incorporated today
announced a series of actions designed to position the
organization for the future. The Company expects to record a
pre-tax charge of $57 million in the third quarter. An
additional $3 million charge will be recorded as these actions
are completed.
Actions to be taken include the following:
. The Brooklyn, NY plant of packaging subsidiary Setco,
Inc. will be closed.
. Certain overseas manufacturing facilities will be
realigned.
. Giza National Dehydration Company of Cairo, Egypt, a
subsidiary of Gilroy Foods, Incorporated, will be sold. This
action is consistent with the Company's recent decision to sell
Gilroy Foods.
. A number of small, non-core businesses will be
divested.
. Certain regions of the U.S. consumer business will
change from a direct sales force to a broker sales force to
deliver products to market more effectively.
. The Company will exit certain minor, non-core product
lines.
As a result of these actions, net sales of the Company will
be reduced by approximately 5%.
No Baltimore-based personnel will be included in these
actions.
Commented Charles P. McCormick, Jr., Chairman & Chief
Executive Officer, "We are committed to our mission to profitably
expand our worldwide leadership position in the spice, seasoning,
and flavoring markets. This essential portfolio review will
allow us to focus on our core businesses and create shareholder
value."
# # #
For information:
(410) 771-7310
6/96
