Canadian dairy giant Saputo Inc. says it will close its facilities in Trenton, Ont., and Saint John, N.B.
Announced Thursday, the closures are scheduled for September this year and January 2021, respectively.
The dairy and cheese company estimates approximately 280 employees will be impacted — 200 from Trenton and 80 in Saint John.
The production of both these sites will be integrated into other Saputo facilities across Canada and some affected employees will be offered the possibility of transferring to other Saputo locations within the dairy division.
The announcement came as Saputo reported a third-quarter profit of $197.8 million or 48 cents per diluted share compared with a profit of $342.0 million or 87 cents per diluted share a year ago. Revenue totalled $3.89 billion, up from $3.58 billion.
On an adjusted basis, Saputo says it earned 50 cents per diluted share for the quarter, up from an adjusted profit of 44 cents per diluted share in the same quarter last year.
According to the company’s 2019 annual report, Saputo has approximately 16,800 employees at 65 plants, of which 5,600 employees are at 21 Canadian plants.
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