REUTERS
30/11/2006
WINNIPEG, Manitoba - Maple Leaf Foods Inc. said on Thursday it will start to sell its livestock feed unit in January, part of its move to restructure the meat processing side of its business.
The feed unit has about C$650 million ($570 million) in sales, and includes the Shur-Gain chain in Eastern Canada and Landmark Feeds in Western Canada, Maple Leaf said.
Maple Leaf, one of Canada's largest meat processors, said last month that the sharp rise in the Canadian dollar had made its pork export business unprofitable.
The company now plans to focus on meat processing and the bakery side of its business. It canceled plans for a new hog slaughter plant in Saskatchewan and said it will sell off other hog plants and its livestock feed business.
Maple Leaf retained RBC Capital Markets to help divest the feed mills, which make feed for hogs, cattle, poultry, fish and pets, and includes a research farm in Burford, Ontario.
