Maple Leaf to close plant in Ontario
May 31, 2007
by FoodBusinessNews.net Staff
TORONTO — As part of its strategy to focus on value-added foods, Maple Leaf Foods, Inc. announced plans to close its pork processing plant in Etobicoke, Ont., at the end of October.
The facility, which is approximately 50 years old, manufactures value-added red meat products for Canadian food service customers, and was part of Maple Leaf’s $515 million, Schneider Foods acquisition in 2003. Production at the plant will be consolidated into the company’s plant in Brampton, Ont.
Closing costs, including severance, decommissioning and asset write-downs, are expected to result in a restructuring charge of approximately C$5 million before tax, most of which is expected to be charged against earnings in 2007, according to Maple Leaf Foods.