UAP restructures, cuts 100 jobs

GREELEY– UAP Holding Corp. (NASDAQ: UAPH), the holding company of United Agri Products, is cutting 100 jobs from the company’s 3,800 employees in a restructuring effort. The cuts will not affect operations in Colorado.
The Greeley-based company, which distributes agricultural products such as seeds and fertilizer across North America, is consolidating the management operations of 10 of its regional distribution organizations into five and closing its regional finance center in Tampa. The organizational changes are effective immediately and the financial benefit should offset any one-time costs incurred in fiscal year 2006 and will be fully realized in UAP’s fiscal 2007.
“This streamlining will improve operating efficiencies and allow us the financial flexibility to support the sales growth and strategic initiatives that will enhance long-term shareholder value,´ said L. Kenny Cordell, president and CEO of UAP Holding Corp. “As we come to the end of a good crop year for our growers, now is the best time to make the appropriate internal changes that will allow us to focus on our core competencies, while aggressively addressing the new opportunities we have in the marketplace.”