February 09, 2011 12:01 ET

72nd Annual General Meeting: Agropur Ends Its Fiscal Year on a High Note

LONGUEUIL, QUEBEC--(Marketwire - Feb. 9, 2011) - Once again this year Agropur has posted good results: the Cooperative's sales increased to more than $3.3 billion and earnings before patronage dividends and income taxes were $151.3 million, for the fiscal year ended October 30, 2010.

Significant investments were made in the organization's various workplaces to maintain and continuously improve the quality of products and facilities. Agropur also made two acquisitions in the United States: the Green Meadows cheese plant in Iowa, in December 2009, and Main Street Ingredients in December 2010, a Wisconsin-based company specializing in functional products.

Agropur has positioned itself over the years as a true leader in the Canadian dairy industry. The organization also aims to become an increasingly significant player in the United States, and recent acquisitions south of the border reflect this goal. "We believe that we have good business plans and the employees to achieve our goals. We are continuing our strategy of positioning and expansion to take advantage of the growth of international markets," stated Chief Executive Officer Pierre Claprood.

"If the past is any indication of the future, we can be very optimistic about the next few years. In an industry in which market conditions are constantly changing, Agropur has always been able to adapt to new business realities. While we cannot take anything for granted, the fact remains that Agropur is currently experiencing the best years of its history; clearly, its strategy based on expansion and growth is bearing fruit," added Agropur Chairman Serge Riendeau.

Agropur is maintaining its status as an innovative organization, offering consumers new products, including Allégro 9% light spreadable cream cheese, fine cheeses such as Nouvelle-France, Rivière Rouge and washed-rind Rondoux, and WPC80, which was added to the organization's line of functional products. In addition, Agropur emerged the big winner at several competitions held in Canada, the United States and the U.K., collecting numerous awards.

About Agropur

Founded in 1938, Agropur cooperative is a Canadian dairy industry leader, with 3,459 shareholders and over 5,500 employees at 27 plants and numerous distribution centres and offices across Canada, the U.S. and Argentina. It processes 3 billion litres of milk annually and offers an impressive array of products, including such popular brands as Québon, Oka, Sealtest, Natrel, Island Farms, Yoplait, La Lacteo, Trega and Schroeder.

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