MONTREAL, QUEBEC — Saputo Inc. announced today the closure of its Brampton,
Ontario plant which processes milk and cream products. The plant will cease its
activities by October 31, 2010. Operations will be integrated in other
facilities located in Ontario.
The Company also announced the consolidation of all the distribution activities
of the greater Toronto area into one distribution center which will be located
in Vaughan, Ontario. These changes will be implemented gradually and should be
completed at the end of September 2010.
In all, this announcement will affect approximately 190 employees from whom
around 120 employees will be offered the possibility to be relocated within the
Dairy Products Division (Canada).
These decisions are part of the Company’s continual analysis of its overall
activities and the implementation of measures aimed at improving its operational
efficiency.
Costs connected with this announcement will be approximately $4.6 million, after
tax, which includes a fixed assets write-down of approximately $2 million, after
tax. Saputo expects annual after tax savings of approximately $6.5 million.
About Saputo
Saputo produces, markets and distributes a wide array of products of the utmost
quality, including cheese, fluid milk, yogurt, dairy ingredients and
snack-cakes. Saputo is the 11th largest dairy processor in the world, the
largest in Canada, the third largest in Argentina, among the top 3 cheese
producers in the United States and the largest snack-cake manufacturer in
Canada. Our products are sold in more than 40 countries under well-known brand
names such as Saputo, Alexis de Portneuf, Armstrong, Baxter, Dairyland,
Danscorella, De Lucia, Dragone, DuVillage 1860, Frigo Cheese Heads, Kingsey, La
Paulina, Neilson, Nutrilait, Ricrem, Stella, Treasure Cave, HOP&GO!, Rondeau and
Vachon. Saputo is a publicly traded company whose shares are listed on the
Toronto Stock Exchange under the symbol SAP.
Source:
Saputo Inc.