Maple Leaf Foods Completes Strategic Review of Rendering Operations
TORONTO, Dec. 21, 2007 (Canada NewsWire via COMTEX News Network) -- Maple Leaf Foods Inc. (TSX: MFI) today announced that following the completion of a review of the role of its Rothsay rendering operations in the Company's new protein business model, the Company has decided to retain the business in its entirety.
In October 2006, Maple Leaf announced a change in its strategy to focus on growth in its value added meat, meals and bakery businesses. At that time, management indicated that the role of its rendering operations was under review. Management has since concluded that the business is an integral part of managing the disposition of by-products from its remaining primary processing operations.
Rothsay recycles inedible animal by-products, generated by Maple Leaf operations or collected from other customers, into value-added products including animal feed, amino acid supplements, biodiesel and other industrial uses. Rothsay provides an essential service for its customers and internal operations by responsibly managing and recapturing the value of inedible by-products.
Maple Leaf Foods is a leading food processing company, headquartered in Toronto, Canada. The Company employs approximately 22,500 people at its operations across Canada and in the United States, the United Kingdom and Asia, and had sales of $5.9 billion in 2006.
SOURCE: Maple Leaf Foods Inc.
Director of Communications