USANA to Sell Draper Facility Assets
Source: Salt Lake Tribune
"Usana Health Sciences Inc., a multi-level marketing company based in Salt Lake City, said it has signed a letter of intent to sell assets and inventory associated with its third-party manufacturing business at its facility in Draper.
Bloomberg News reports the terms of the transaction were not disclosed, however the company indicated revenue from that business segment totaled $1.95 million in the first quarter of 2007.
Usana in mid-April reported revenue for the first quarter of its 2007 fiscal year increased 16.3 percent to $102.6 million.
The company indicated that it will retain the assets associated with manufacturing and packaging its Sense skin and beauty care products that it will continue to produce at its current facility in Draper.
The long-term focus of Usana continues to be manufacturing and distributing its health and beauty products, said David Wentz, the company's president. "The sale of our third-party contract manufacturing business will allow us to focus 100 percent of our efforts on growing and expanding our direct selling business."
In other company news, Ladd R. McNamara, a sales associate for Usana, resigned from the company's medical advisory board after questions arose over his background, the Wall Street Journal reported."
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