Rogers Sugar Income Fund
TSX : RSI.UN

Rogers Sugar Income Fund

July 20, 2005 11:04 ET

Rogers Sugar Income Fund: Announcement

MONTREAL, QUEBEC--(CCNMatthews - July 20, 2005) - THIS MEDIA RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Stuart Belkin, Chairman of Rogers Sugar Ltd. ("Rogers") and Lantic Sugar Limited ("Lantic") wishes to announce on behalf of the Board of Directors, the resignation of Pierre G. Cote as President, CEO and Director of Lantic and Rogers. Stuart Belkin will hold the positions on an interim basis, while Lantic and Rogers undertakes an executive search process to identify the premier industry professional from both internal and external candidates to fill the vacancy created by Pierre Cote's resignation.

Pierre G. Cote, currently the President and CEO of both Lantic and Rogers, will be leaving to take up a senior management position with a major Canadian pulp and paper company. Stuart Belkin said, "Pierre is moving to a very senior appointment with a major Canadian paper industry company, and we are proud of what he has accomplished in his tenure with us. We consider his selection of this new opportunity to be a wonderful recognition of his abilities he has demonstrated at Lantic and Rogers. We wish Pierre all the best in his new role and thank him for his contribution to the development of our sugar companies. We look forward to continuing to build our demonstrated success as we move forward with the capable management team we have in place."

Mr. Cote said, "I would like to thank the Board for their confidence in me and all of the employees at Lantic and Rogers who are dedicated to outstanding customer service and superior financial performance. The leadership team at Lantic and Rogers will continue to create value for all its stakeholders."

About Rogers Sugar Income Fund

The Fund is an open-ended, limited purpose trust established under the laws of the Province of Ontario. The Fund holds all of the common shares of Lantic Sugar Limited ("Lantic") and Rogers Sugar Ltd. ("Rogers").

Rogers has been in the sugar business since 1890 and is the leading refiner, processor, distributor and marketer of sugar products in Western Canada. As the sole sugar processor in Western Canada, Rogers supplies over 90% of the demand for refined sugar in that region. Rogers has two sugar processing facilities, a cane sugar refinery in Vancouver, British Columbia and a beet sugar processing facility in Taber, Alberta. Rogers' sugar products are marketed primarily under the "Rogers" trade name and include granulated, icing, cube, yellow and brown sugars, liquid sugars and specialty syrups.

Lantic is one of two refiners in Eastern Canada and operates a cane sugar refinery in Montreal, Quebec. Lantic's sugar products are marketed primarily under the "Lantic" trade name and include granulated, icing, cube, liquid, yellow and brown sugars.

Contact Information

  • Lantic Sugar Limited and Rogers Sugar Ltd.
    Mr. Tom Lindsay
    Director
    (604) 602-4051