Brief: Saputo Announces Capital Investments And Optimization Initiatives As Part Of Global Strategic Plan

Saputo

03/08/2022 22:02

Aug 3 (Reuters) - Saputo Inc  SAP.TO :
    * SAPUTO ANNOUNCES CAPITAL INVESTMENTS AND OPTIMIZATION
INITIATIVES AS PART OF ITS GLOBAL STRATEGIC PLAN
    * SAPUTO - PLANS TO INVEST CDN$45 MILLION TO CONVERT
MOZZARELLA
CHEESE MANUFACTURING FACILITY IN REEDSBURG, WISCONSIN, TO A GOAT
CHEESE MANUFACTURING PLANT
    * SAPUTO INC - CURRENT CHEESE MANUFACTURING FROM REEDSBURG
FACILITY WILL BE TRANSFERRED TO OTHER EXISTING SAPUTO FACILITIES
IN USA SECTOR
    * SAPUTO INC - PLANS TO CLOSE ITS EXISTING GOAT CHEESE
MANUFACTURING FACILITY IN BELMONT, WISCONSIN
    * SAPUTO INC -  ABOUT 200 IMPACTED EMPLOYEES FROM BELMONT
CHEESE
MANUFACTURING FACILITY WILL BE PROVIDED WITH FINANCIAL SUPPORT
INCLUDING SEVERANCE
    * SAPUTO INC - INITIATIVES WILL BEGIN IN Q2 OF FISCAL 2023
AND ARE
EXPECTED TO TAKE UP TO 18 MONTHS TO IMPLEMENT
    * SAPUTO INC - CAPITAL INVESTMENTS AND CONSOLIDATION
INITIATIVES
EXPECTED TO RESULT IN ANNUAL SAVINGS AND BENEFITS GRADUALLY,
BEGINNING IN FISCAL 2024
    * SAPUTO INC - COSTS RELATED WITH CAPITAL INVESTMENTS AND
CONSOLIDATION INITIATIVES WILL BE ABOUT CDN$15 MILLION AFTER
TAXES
    * SAPUTO INC -  COSTS RELATED WITH CAPITAL INVESTMENTS AND
CONSOLIDATION INITIATIVES WILL START TO BE RECORDED IN Q2 OF
FISCAL 2023

Source text for Eikon:  ID:nGNX2JdqZ6 
Further company coverage:  SAP.TO 

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