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Wildpack Beverage Reports Completion of Baltimore Co-Packing Upgrade, Q1 2023 Filing Date Change and Q1 2023 Earnings Call
VANCOUVER, BC / ACCESSWIRE / July 21, 2023 / Wildpack Beverage Inc. (TSXV:CANS) (OTC PINK: WLDPF...
About this update from Wildpack Beverage Inc.
[{"type":"text","content":"Wildpack Beverage Reports Completion of Baltimore Co-Packing Upgrade, Q1 2023 Filing Date Change and Q1 2023 Earnings CallVANCOUVER, BC / ACCESSWIRE / July 21, 2023 / Wildpack Beverage Inc. (TSXV:CANS) (OTC PINK: WLDPF) (\"Wildpack Beverage\" or the \"Company\") a leading middle market co-packer of canned goods has completed a comprehensive upgrade to its Baltimore co-packing line, moved its first quarter financial filing to July 25 due to SEDAR upgrades, and will hold its earnings call at 2pm Pacific on July 25. Baltimore Co-Packing UpgradesOur co-packing segment has seen dramatically increasing and sustained demand in 2023 which is also a major driver of demand in our decorating, printing, and brokering segments. As such, we undertook an approximate $2.0 million upgrade which took approximately two weeks to complete. Production is scheduled to recommence on July 24, 2023. The upgrades and projected key performance indicators of this project include(d):Increased filling speed by 122.2% from 90 to 200 cans per minuteReplaced in-line filler with rotary filler to reduce scrap rates by approximately 10.0%Automated all post-fill packaging equipment to reduce direct costs such as labour, by approximately 20.0% on a per can basisInstalled a new high-speed pasteurizer unit capable of matching the increased filling cans per minuteReplumbed our facility utility infrastructure to drastically decrease batching time and improve efficiencyInstalled racking and improved warehouse layout to improve general efficiencyTaking all these improvements into consideration, Management expects the throughput of this line to increase by approximately 2.0x over the next three months. We have also relocated our Director of Co-Packing Operations to Baltimore to oversee the facility during this critical ramp period.First Quarter 2023 Financials and Earnings CallWildpack Beverage expects to release financial results for the first quarter ended March 31, 2022, after the market closes on July 25. The change in date is due to SEDAR undergoing website upgrades which preclude uploads until that date. Wildpack Beverage will host a webcast to discuss financial results for the quarter and previously announced 2022 Fiscal Year results, with CEO, Mitch Barnard, CFO, Ryan Mason, and CGO, Thomas Walker. You can register for the webinar below, those that had previously re...