Saputo Inc. says it will close two Canadian dairy division plants, eliminating 144 jobs, while planning to invest $10 million in automation at other plants in its Canadian division during the coming year. The news comes on the heels of an announced deal under which Saputo will purchase the California cheese operations of Land O’Lakes.
The cheese and snack maker said costs linked with the closures will be about
$1.5 million after tax, while savings are expected to be $3 million in the
coming financial year and $4.8 million in the future. Analysts say all these
measures should lead to continued strong financial results from the Canadian
Newsline: Rationalization Continues at Saputo
April 1, 2007