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Saputo Closes Cookie Plant
MONTREAL - Mar 29/07 - SNS -- Saputo Inc. is closing its fresh cookies manufacturing plant in Laval, Quebec, Canada effective June 29.
This will affect 97 employees, some of whom will be offered the possibility of transferring to other facilities. The plant's activities will be integrated in those of Sainte-Marie-de-Beauce, Quebec facility.
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.
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