Premium Brands Closes Processed Meats Facility
Canada-based Premium Brands Holdings Corp. announced plans to close its processed meats plant in Toronto, Ontario. The company looked at various options to continue operation of the leased facility, which was built in 1958, but due to its age and location, none were economically feasible.
The Toronto plant currently produces branded and private label processed meats for a variety of retail and foodservice customers. Premium Brands intends to gradually transition a portion of this business to its other production facilities in Ontario beginning in the spring with a final shutdown date scheduled for December. The closure will affect approximately 200 employees.
“While necessary, we regret the impact the shutdown will have on our employees at the Toronto plant,” says John Beliveau, chief operating officer of the retail group. “We greatly appreciate their years of service and dedication, and will do our best to help them through this time of transition.”
“The shutdown of the Toronto plant and the corresponding transfer of production to our three other state-of-the-art or recently renovated deli meat production facilities in Ontario, combined with the investments we are making in expanding the capacity of these facilities, is expected to result in an increase in our pre-tax earnings of approximately $2.4 million,” adds Beliveau.
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