Saputo announces the closure of its plant in Harrowsmith, ON, Canada
Saputo announces the closure of its plant in Harrowsmith, ON, Canada
10/12/2005 0:00 UTC
(Montreal, October 12, 2005) – Saputo Inc. today announced the closure of its cheese manufacturing plant in Harrowsmith, Ontario, Canada. The plant will cease to operate on June 28, 2006, and its activities will be integrated into those of other Saputo facilities. This decision is part of the Company’s continual analysis of its overall activities and the implementation of measures aimed at improving its operational efficiency.
In all, 89 employees will be affected, a majority of whom will be given the possibility of transfer to Company plants elsewhere.
In relation to that rationalization, the Company intends to add approximately $4.5 million in new fixed assets in other facilities. Costs connected with the closure will be approximately $1.5 million, after tax. The Company expects annual after tax savings of about $3.5 million.
About Saputo
Solid foundations, a commitment to excellence and dedication to growth are the keystones that have enabled Saputo Inc. to evolve as the largest dairy processor in Canada, one of the most important cheese producers in North America, the third dairy processor in Argentina and the largest snack cake manufacturer in Canada. Our products are marketed under such well-known brand names as Saputo, Armstrong, Alexis de Portneuf, Kingsey, Dairyland, Baxter, Nutrilait, Stella, Frigo, Dragone, Treasure Cave, La Paulina, Ricrem and Vachon. Saputo Inc. employs 8,500 people bringing their talents and passion to its 45 plants and its distribution centres, from one end of the Americas to the other. Saputo Inc. is a public company whose shares are listed on the Toronto Stock Exchange under the symbol SAP. Visit our website at www.saputo.com.
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Information
Manon Goudreault
Director, Communications
514.328.3377
In all, 89 employees will be affected, a majority of whom will be given the possibility of transfer to Company plants elsewhere.
In relation to that rationalization, the Company intends to add approximately $4.5 million in new fixed assets in other facilities. Costs connected with the closure will be approximately $1.5 million, after tax. The Company expects annual after tax savings of about $3.5 million.
About Saputo
Solid foundations, a commitment to excellence and dedication to growth are the keystones that have enabled Saputo Inc. to evolve as the largest dairy processor in Canada, one of the most important cheese producers in North America, the third dairy processor in Argentina and the largest snack cake manufacturer in Canada. Our products are marketed under such well-known brand names as Saputo, Armstrong, Alexis de Portneuf, Kingsey, Dairyland, Baxter, Nutrilait, Stella, Frigo, Dragone, Treasure Cave, La Paulina, Ricrem and Vachon. Saputo Inc. employs 8,500 people bringing their talents and passion to its 45 plants and its distribution centres, from one end of the Americas to the other. Saputo Inc. is a public company whose shares are listed on the Toronto Stock Exchange under the symbol SAP. Visit our website at www.saputo.com.
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Information
Manon Goudreault
Director, Communications
514.328.3377
Saputo Group Inc.
Camillo Lisio, Executive Vice-President
(514) 328-3314
