Consumer facial tissue brand Kleenex will soon be no more in Canada, as the company that makes the iconic product has decided to exit a major part of its business in this country.
“We have been operating in a highly constrained supply environment, and despite our best efforts we have been faced with some unique complexities on the Kleenex business,” said Todd Fisher, Kimberly-Clark’s Canadian vice-president and general manager, in an emailed statement.
“While this is breaking news to the financial community, we confirmed through our channel checks that industry players have been aware of the impending exit for a few months now, as [Kimberly-Clark’s] customers have been making inquiries to secure replacement supply,” he said in a note to clients.
“There were rumours recently that they they were thinking of exiting the market so we just wanted to make sure that we were ready to service more demand in Canada, which we are,” said Michel Manseau, Kruger’s vice-president, in an interview with CBC News.
“We have eight plants in Canada and one in the U.S.,” he said, noting the company just spent $1 billion in Quebec to build two facilities and are planning to launch a new line of facial tissues “that is starting up at the beginning of 2024 — so our timing is good.”
The move makes Kleenex just the latest in a long line of well-known consumer products to pull out of Canada in one form or another in recent years, including Bugles snack chips, Skippy peanut butter and Delissio frozen pizza.
The original article contains 1,035 words, the summary contains 248 words. Saved 76%. I’m a bot and I’m open source!
This is the best summary I could come up with:
Consumer facial tissue brand Kleenex will soon be no more in Canada, as the company that makes the iconic product has decided to exit a major part of its business in this country.
“We have been operating in a highly constrained supply environment, and despite our best efforts we have been faced with some unique complexities on the Kleenex business,” said Todd Fisher, Kimberly-Clark’s Canadian vice-president and general manager, in an emailed statement.
“While this is breaking news to the financial community, we confirmed through our channel checks that industry players have been aware of the impending exit for a few months now, as [Kimberly-Clark’s] customers have been making inquiries to secure replacement supply,” he said in a note to clients.
“There were rumours recently that they they were thinking of exiting the market so we just wanted to make sure that we were ready to service more demand in Canada, which we are,” said Michel Manseau, Kruger’s vice-president, in an interview with CBC News.
“We have eight plants in Canada and one in the U.S.,” he said, noting the company just spent $1 billion in Quebec to build two facilities and are planning to launch a new line of facial tissues “that is starting up at the beginning of 2024 — so our timing is good.”
The move makes Kleenex just the latest in a long line of well-known consumer products to pull out of Canada in one form or another in recent years, including Bugles snack chips, Skippy peanut butter and Delissio frozen pizza.
The original article contains 1,035 words, the summary contains 248 words. Saved 76%. I’m a bot and I’m open source!