Saputo Inc.
TSX : SAP

Saputo Inc.

March 10, 2008 09:59 ET

Saputo Inc. Commences Legal Proceedings Against Certain Canadian Newspapers

MONTREAL, QUEBEC--(Marketwire - March 10, 2008) - Saputo Inc. (TSX:SAP) announced today that it has instituted legal actions for defamation jointly with Mr. Lino Saputo against certain Canadian newspapers and their journalists in connection with the content of articles published on December 12 and 13, 2007.

Mr. Lino A. Saputo, Jr., President and Chief Executive Officer, stated: "Mr. Lino Saputo has worked honestly all his life to create one of Canada's most prosperous businesses. We are proud of the development of the business and thank Quebecers and Canadians for their relentless support since 1954, without which this success would not have been possible. The newspaper articles contained false allegations about Mr. Lino Saputo and Saputo Inc. and we will not tolerate the dissemination of false and misleading information which is harmful to our name, reputation and business interests."

A penal suit in defamation has also been instituted in Italy against the Italian weekly L'Espresso and its journalists regarding articles published on November 22, 2007.

Contrary to what the Canadian newspapers suggested, the legal proceedings commenced in Italy have confirmed to date that:

- Lino Saputo is not and has never been under investigation by the Italian police and has never been named in the complaints record of the Italian authorities.

- A certain Mariano Turrisi, the person against whom legal proceedings are directed in Italy, has admitted using the name Saputo in order to imply that the corporations under his control, Made in Italy Spa and Made in Italy Inc., would be acquired by Lino Saputo.

- Turrisi does not know Lino Saputo, has never met him and has never done business with him.

- Lino Saputo has never spoken with Turrisi.

- The investigation is not about money laundering but about a fraud involving Turrisi.

The suits filed in Canada aim at rectifying the following facts which were, one way or another, addressed in the newspapers and media being sued:

- Lino Saputo is not and has never been under investigation by the Italian police and has never been named in the complaints record of the Italian authorities.

- Lino Saputo has never had any link with the Italian or Sicilian mafia or with any other criminal organization.

- Lino Saputo has never had any links with Vito Rizzuto.

- Lino Saputo has never had any links with Mariano Turrisi.

- Lino Saputo has never taken part in any money-laundering operation or other illegal scheme of any nature whatsoever.

- Lino Saputo never took part directly or indirectly in the creation of the businesses Made in Italy Spa and Made in Italy Inc.

- Lino Saputo holds no interest directly or indirectly in the businesses Made in Italy Spa and Made in Italy Inc.

- Lino Saputo holds no interest directly or indirectly in Saputo Enterprise Corporation.

In addition, the proceedings filed against certain Canadian newspapers and their journalists are blaming them for having acted recklessly and in bad faith by publishing information they knew or ought to have known false and slanderous, in order to mar the reputation of Mr. Saputo and Saputo Inc., more specifically by falsely associating them with organized crime.

The Company

Saputo, a whole world to discover. With its distinctive array of products and its commitment to growth, Saputo continues to explore and seize new opportunities while maintaining the best of tradition. Through product innovations, global expansion and unwavering employee dedication, Saputo produces, markets and distributes products of the highest quality. Saputo is 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. Success stems from the passion and expertise of the 8,900 men and women who work in its numerous locations worldwide. Well-known brands such as Saputo, Alexis de Portneuf, Armstrong, Baxter, Dairyland, Danscorella, De Lucia, Dragone, DuVillage de Warwick, Frigo, Kingsey, La Paulina, Nutrilait, Princesse, Ricrem, Sir Laurier d'Arthabaska, Stella, Treasure Cave, HOP&GO!, Rondeau and Vachon have earned the trust of consumers in over thirty countries. Saputo Inc. is a public company whose shares are traded on the Toronto Stock Exchange under the symbol SAP.

Contact Information

  • Saputo Inc.
    Karine Vachon
    Advisor, Communications
    514-328-3377