Business
Maple Leaf Foods to Construct World-Class Value-Added Poultry Facility in London, Ontario
Maple Leaf Foods to Construct World-Class Value-Added Poultry Facility in London, Ontario ...
About this update from Maple Leaf Foods Inc.
[{"type":"text","content":"\n\n\n\n\nMaple Leaf Foods to Construct World-Class Value-Added Poultry Facility in London, Ontario\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, Nov. 26, 2018\n\n\n\nHistoric investment to meet growing demand and strengthen competitiveness of Canadian poultry sector\nInvestment Community Conference Call Today at 5:30 pm EST\nTSX: MFI www.mapleleaffoods.com\n MISSISSAUGA, ON, Nov. 26, 2018 /CNW/ - Maple Leaf Foods (TSX: MFI) today announced plans to build a $660 million value-added fresh poultry facility in London, Ontario. \n\n \n \n\n \nThe new 640,000 square feet facility is expected to be one of the most technologically advanced poultry-processing plants in the world, with leading-edge food safety, environmental, and animal welfare processes and technologies. \nFunding for the project includes a capital investment of approximately $605.5 million from Maple Leaf Foods, an investment of $34.5 million from the Government of Ontario and a $20 million investment from the Government of Canada under the Strategic Innovation Fund. In addition, the Company is receiving a $8 million loan from the AgriInnovate Fund. As part of the federal funding agreement, Maple Leaf will invest a further $5 million over the next five years on projects that accelerate adoption of advanced manufacturing and production technologies and support the Company's goal to reduce its environmental footprint by 50% by 2025.  \n\"This world-class facility will enable Maple Leaf to meet the steadily growing consumer demand for premium, value-added poultry products, and strengthen Canada's food system,\" said Michael H. McCain, President and CEO. \"It will incorporate leading edge food safety, environmental and animal care technologies that advance our vision to be the global leader in sustainable protein. This is a historic investment in the Canadian poultry sector, providing significant stakeholder and economic benefits and ensuring that Canada has sufficient domestic processing capacity to meet forecasted poultry production ...