Saputo Announces Consolidation Initiatives Aimed at Enhancing Its Operational Efficiency in Australia
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Tuesday, November 8, 2022
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MONTRAL, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Saputo Inc. (we, Saputo or the Company) (TSX: SAP) announces today that it is undertaking further consolidation initiatives intended to enhance its operational efficiency and strengthen its competitiveness in Australia.
Key Points:
- MONTRAL, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Saputo Inc. (we, Saputo or the Company) (TSX: SAP) announces today that it is undertaking further consolidation initiatives intended to enhance its operational efficiency and strengthen its competitiveness in Australia.
- Additionally, while the sites will remain operational, the Company will streamline activities at its facilities located in Leongatha, Victoria, and Mil-Lel, South Australia.
- Costs related with the consolidation initiatives outlined above will be approximately CDN$26 million after tax, which include non-cash asset write-downs of approximately CDN$20 million after tax.
- All forward-looking statements included herein speak only as of the date hereof or as of the specific date of such forward-looking statements.