Landmark Feeds Announces Sale of its Abbotsford Mill Operation
Abbotsford, BC – May 17, 2004 – Landmark Feeds, an independent operating company of Maple Leaf Foods Inc., today announced the sale of its mill operations in Abbotsford to Ritchie-Smith Feeds. As a result, the Company will be closing its Abbotsford mill effective May 31, 2004.
"The decision to divest our interests in the Abbotsford mill operation was based on the current over-capacity of feed manufacturing in the Fraser Valley resulting from the recent outbreak of Avian Flu which has significantly reduced feed demand in the region,” said Ron Arnason, President, Landmark Feeds.
The sale of the Abbotsford mill will affect 29 employees. Transitioning the affected employees into new employment is a priority for Landmark Feeds, which may include positions at other Maple Leaf Foods operations in the region. Employees who do not find employment within the Company will receive severance packages and benefits exceeding legislative requirements.
Landmark Feeds has agreed to work with Ritchie-Smith Feeds to ensure there is a smooth transition of all customers. Landmark will provide Ritchie-Smith Feeds with its micro-nutrition feed formulation and access to its technology to ensure Landmark's existing customers continue to receive the same high quality products and programs.
Maple Leaf Foods Inc. is a leading Canadian food processing company committed to delivering quality food products to consumers around the world. Headquartered in Toronto, Canada, the company employs more than 23,000 people at its operations across Canada and in the United States, Europe and Asia. Maple Leaf Foods had sales of $5.0 billion in 2003.