“It is with great regret that we are announcing this news,” said Geoffrey T Martin, president & CEO. “Our operation in Ontario now exports its entire output into the US. Distance from key customers and the step change rise of the Canadian dollar over the last decade combined to significantly impede competitiveness.
“The plant has been unprofitable since 2009 and posted sizeable losses during the economic crisis years. Although results improved in 2012 and 2013, the operation continues to make losses. Consequently, we feel it is now time to make this difficult decision.”
Source: CCL Industries
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