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The PET Dairy plant in Richmond is being closed, with a loss of 75 jobs, as the company that operates it seeks to cut costs amid competitive pressures in the milk business.

Texas-based Dean Foods Co., which operates the milk processing factory at 1505 Robin Hood Road, confirmed Thursday it will phase out production at the plant.

“Dean Foods is consolidating its operations in Virginia and will be ending production at its PET Dairy fluid milk processing plant in Richmond,” the company said in a statement. “Production will be phased out over the next few months, and approximately 75 positions will be eliminated.”

The company said it will move the production to plants in High Point, N.C., and Winston-Salem, N.C. PET products will continue to be available in the Richmond region, the company said.

“We regret the impact that this result will have on our employees and our community,” the company said. “The decision to eliminate jobs in any part of our business is never an easy one. This move does not reflect the quality of work performed by our employees, but rather reflects the need to remove redundancy in our operations.”