The decision is part of Hanesbrands' efforts to restructure its supply chain to create more efficient production clusters that utilize fewer, larger facilities.
The company expects $100 million balance sheet benefit from working capital improvement, reduced raw material requirements, supplier-managed inventory benefits and sale proceeds.
Kraft's proposed and subsequently rejected $16 billion offer for Cadbury may trigger rival offers. Which company has the biggest chance at winning the Cadbury prize? Bloggers reveal their opinions here.
