Saputo announces plant closures in Canada
The announced measures are part of the company's continual analysis of its overall activities.
Canada-based Saputo Inc. announced measures aimed at improving its operational efficiency.
As a result, Saputo will close three of its facilities in Canada—Sydney (Nova Scotia), Princeville (Québec) and Ottawa (Ontario). The closures are scheduled in June 2016, August 2016 and December 2017, respectively, and will impact approximately 230 employees. And, the current production will be integrated into other Saputo facilities.
Over the recent years, Saputo has maintained efforts to pursue additional efficiencies and decrease costs while strengthening its market presence. The announced measures are part of the company's continual analysis of its overall activities.
In relation to these rationalizations, the company intends to add approximately $32 million in new fixed assets in other Saputo facilities over the course of the next two fiscal years.