Maple Leaf moves closer to pig sector exit
Maple Leaf Foods plans to shut down yet another of its pork processing plants as part of its restructure plan to exit the pig production and pork export business.
Last year Maple Leaf, Canada’s largest food processor, began to restructure its operations to move away from the unprofitable pig production and pork export business and focus on higher-end meat processing.
Last week the company announced its plan to close its operation in Toronto, Ontario at the end of October 2007. The plant produces red meat products for foodservice customers across Canada, these operations are to be consolidated into its recently acquired facility in Brampton, Ontario.
The closure will affect about 100 jobs and result a pre-tax charge of approximately $2 million, most of which is expected to be charged against 2007 earnings.
The company also completed the previously announced closure of its primary pork processing operations in Saskatoon, which processed 15,000-17,000 hogs per week.
Earlier this month the company sold its feed business to Dutch food group Nutreco.
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