TSX: MFI
www.mapleleaffoods.com
MISSISSAUGA, ON, March 9, 2022 /CNW/ – Maple Leaf Foods Inc. (TSX: MFI) today announced that it will be pursuing further optimization opportunities in its poultry network upon completion of its new value-added poultry processing plant in London, Ontario that is scheduled to be completed in late 2022.
The move includes shifting volumes currently processed at the Maple Leaf Foods’ poultry plants in Schomberg and Bradford, Ontario to the new London plant by the end of 2023 in connection with the ramp up of London to full production. The two plants will continue to operate as normal for the next 18 months until the transition. Once the transition is completed, the Bradford plant will continue to operate with a new focus on value-added opportunities, and the Schomberg plant will be shut down. The Company deeply values the work of its team members at the Schomberg plant and expects to identify opportunities at other plants within the Maple Leaf network for those who are impacted as a result of the transition.
Pursuing these optimization opportunities is part of Maple Leaf Foods’ ongoing strategy of building its strong, competitive, and efficient poultry value chain, leveraging best in class technologies, processes and ingenuity to deliver nutritious food. As a purpose driven company, Maple Leaf Foods is committed to Raising the Good in Food.
About Maple Leaf Foods
Maple Leaf Foods Inc. (“Maple Leaf Foods”) is a carbon neutral company with a vision to be the most sustainable protein company on earth, responsibly producing food products under leading brands including Maple Leaf®, Maple Leaf Prime®, Maple Leaf Natural Selections®, Schneiders®, Schneiders® Country Naturals®, Mina®, Greenfield Natural Meat Co.®, Lightlife® and Field Roast™. Maple Leaf Foods employs approximately 13,500 people and does business in Canada, the U.S. and Asia. The company is headquartered in Mississauga, Ontario, and its shares trade on the Toronto Stock Exchange (MFI).
Forward Looking Statements Disclaimer
This news release includes “forward-looking information” under applicable Canadian securities legislation (collectively, “forward-looking information”). Forward-looking information is typically identified by words such as “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “plan”, “intend”, “believe”, and similar words or expressions, including the negatives or variations thereof. All forward-looking information reflects Maple Leaf Foods’ beliefs and assumptions based on information available at the time the applicable forward-information is made and in light of its current expectations.
Forward-looking information does not guarantee future performance. Management believes that its assumptions and expectations reflected in the forward-looking information contained herein are reasonable based on the information available on the date such information is provided and the process used to prepare the information. However, Maple Leaf Foods cannot provide assurance that these expectations will prove to be correct. All forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, events, levels of activity and achievements to differ materially from those anticipated in the forward-looking information. Readers should not unduly rely on forward-looking information and are cautioned that the forward-looking information contained herein may not be appropriate for other purposes. Unless required by law, Maple Leaf Foods does not assume any obligation to update any forward-looking information. All forward-looking information contained herein is expressly qualified by this cautionary statement. Further information about the factors affecting forward-looking information and management’s assumptions and analysis thereof, is available in filings made by Maple Leaf Foods with Canadian securities commissions available on SEDAR at www.sedar.com
SOURCE Maple Leaf Foods Inc.
Investor Contact: Mike Rawle, 905-285-5732; Maple Leaf Foods’ Media Hotline, 1-888-995-5030