TSX: MFI
www.mapleleaffoods.com
MISSISSAUGA, ON,
March 9, 2022
/PRNewswire/ - 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
View original content to download
multimedia:https://www.prnewswire.com/news-releases/maple-leaf-foods-announces-future-incremental-optimization-of-its-poultry-network-301499520.html
SOURCE Maple Leaf Foods Inc.