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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Maple Leaf Foods Inc New (PK) | USOTC:MLFNF | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.03 | 0.18% | 16.33 | 8.22 | 24.72 | 16.41 | 16.30 | 16.30 | 3,703 | 22:00:01 |
MISSISSAUGA, ON, Dec. 22, 2014 /PRNewswire/ - Maple Leaf Foods (MFI: TSX) today provided an update on the completion of its network transition, a strategy that began with the Company's primary pork processing operations, and since 2010 has focused on its prepared meats plants and distribution network. In the past four years, the Company has closed five plants, expanded three others, consolidated 17 distribution centres into two and built a 400,000 square foot state-of the-art processing facility. To enable this transition, the Company simultaneously simplified its product portfolio to realize scale efficiencies and moved from multiple operating systems to one integrated platform.
The Company is nearing completion of this structural shift in its supply chain, with current status as follows:
"Maple Leaf Foods is in the final stage of completing a complex strategy to step-change profitability in our business," said Michael H. McCain, President and CEO, Maple Leaf Foods. "While there is always some element of uncertainty of timing given the unpredictable nature of start-ups, we are clear on the benefits and see a much brighter picture for 2015. We have dramatically increased scale and technology, consolidated production into fewer, highly efficient plants and streamlined our product mix. We will complete the transition early next year and have a clear path to realizing our financial targets."
Maple Leaf Foods is Canada's leading consumer packaged protein company headquartered in Mississauga, Ontario. The Company makes high-quality, great tasting, nutritious and innovative food products under leading brands including Maple Leaf®, Maple Leaf Prime®, Maple Leaf Natural Selections®, Schneiders®, Schneiders Country Naturals® and Mina™. Maple Leaf employs approximately 12,000 people in its operations across Canada and exports to more than 20 global markets including the U.S. and Asia.
SOURCE Maple Leaf Foods Inc.
Copyright 2014 PR Newswire
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