American Italian Pasta Company (NYSE:PLB)
Industry: Consumer Goods
American Italian Pasta Company, incorporated in1991, is primarily a producer and marketer of dry pasta in North America. Its product line, consists of over 3,500 items or stock-keeping units (SKUs), including long goods, such as spaghetti, linguine, fettuccine, angel hair and lasagna, and short goods such as elbow macaroni, mostaccioli, rigatoni, rotini, ziti and egg noodles. In many instances, the Company produces pasta according to customers' specifications. It makes over 220 different shapes and sizes of pasta products in over 225 package configurations, including bulk packages for institutional customers and smaller individually wrapped packages for retail consumers. The Company contracts with third parties for the production of certain specialized pasta shapes, such as stuffing shells and manicotti, which are necessary to offer customers a range of pasta products. Purchased pasta represented less than 1% of its total unit volume during the fiscal year ended October 1, 2004 (fiscal 2004). The Company's offerings are produced in vertically integrated milling, production and distribution facilities, located in Excelsior Springs, Missouri; Columbia, South Carolina; Kenosha, Wisconsin; Tolleson, Arizona, and Verolanuova, Italy. The Missouri plant, built in 1988, is a vertically integrated, high-capacity pasta plant using Italian milling and pasta production technology. The South Carolina plant, which commenced operations in 1995, produces pasta shapes conducive to high-volume production. The Wisconsin plant, which commenced operations in 1999, produces pasta for sale to food processors that use dry pasta in their products. This is commonly referred to as industrial pasta. The Italy plant, which commenced operations in 2001, serves private label, foodservice and industrial markets internationally and the United States. In July 2004, the Company suspended full operations at Kenosha, Wisconsin facility. In October 2004, the Company partially reactivated this facility for an expected temporary period to improve product availability. The Kenosha plant will remain in a stand-by mode. In fiscal 2004, the Company introduced a portfolio of new reduced carb products, designed to help mitigate the impact of general pasta consumption declines. In addition, the Company developed a low carb product line in fiscal 2004, under a supply agreement with Atkins Nutritional Services (Atkins). American Italian Pasta actively sells and markets its products throughout the United States, Canada and Mexico. In the retail segment, it provides a focused mass approach supplying consumer preferred regional brands, private-label brands, Italian imports in distinctive packaging and specialty pasta. The Company has also developed customer relationships with food producers that have substantial pasta requirements. American Italian Pasta has a long-term supply agreement with Sysco, a marketer and distributor of foodservice products. The Company's competitors include New World Pasta LLC, and Barilla, Dakota Growers Pasta Company, Philadelphia Macaroni Co. Inc. and A. Zerega's Sons, Inc., De Cecco, Kraft Foods, General Mills, Inc., ConAgra, Campbell Soup Company and Stouffers Corp.,
As Of: 10/07 00:00 ET
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