Saputo Inc.
TSX : SAP

Saputo Inc.

March 29, 2007 09:37 ET

Saputo Announces the Closure of a Plant in its Bakery Division

MONTREAL, QUEBEC--(CCNMatthews - March 29, 2007) - Saputo Inc. (TSX:SAP) announced today the closure of its fresh cookies manufacturing plant in Laval, Quebec, Canada.

The Laval plant will cease its operations on June 29, 2007. In total, 97 employees will be affected by this closure. The plant's activities will be integrated in those of Sainte-Marie-de-Beauce, Quebec facility. In some cases, employees will be offered the possibility of transferring to other Company 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.

Costs after income taxes connected with this closure will be $0.8 million. During fiscal 2008, the Company expects after-tax savings of $1.1 million. For subsequent fiscal years, the annual after-tax savings should be of about $1.6 million.

About Saputo

Always with an expert hand, Saputo transforms into success the passion and initiative of the 8,600 dedicated men and women who work in its 47 plants around the world. Combining tradition and innovation, the Company produces, commercializes and distributes the highest quality products under such well-known brands as Saputo, Alexis de Portneuf, Armstrong, Baxter, Dairyland, De Lucia, Dragone, DuVillage de Warwick, Frigo, Kingsey, La Paulina, Nutrilait, Princesse, Ricrem, Sir Laurier d'Arthabaska, Stella, Treasure Cave, Big Daddy, HOP&GO!, Rondeau and Vachon. As one of the top twenty dairy processors in the world, the largest dairy processor in Canada, among the top five cheese producers in the United States, the third largest dairy processor in Argentina and the largest snack-cake manufacturer in Canada, Saputo renews its commitment to excellence and growth every day. Saputo Inc. is a public company whose shares are listed on the Toronto Stock Exchange under the symbol SAP. Visit our Web site at www.saputo.com.

Contact Information

  • Saputo Inc.
    Karine Vachon
    Advisor, communications
    514-328-3377
    www.saputo.com