Monday, January 26th-0.5°C
24624
23931

Heinz says deal with Highbury Canco to buy its Leamington plant is complete

LEAMINGTON, Ont. - Food giant Heinz says a deal to prevent closing a food processing plant that's a key part of the town's economy is now complete, saving at least 250 jobs.

The H.J. Heinz Co. said Wednesday that Highbury Canco will take over operating the 105-year-old plant in Leamington, Ont. on June 27.

"We are pleased that Canco will manufacture some of Canada's favourite products, including Heinz Tomato Juice, Heinz Beans, and Heinz canned pastas in the years to come," Michael Mullen, senior vice-president of corporate and government affairs at H. J. Heinz Company, said in a statement.

Heinz's planned closure of the plant would have put close to 800 full-time employees out of work and affected employment for about 500 seasonal workers.

Highbury Canco has said it would hire about 250 people, plus additional seasonal workers if the deal went through.

"Now that the deal has concluded, the Highbury Canco Corporation is fully focused on establishing a strong production base in Leamington for Heinz and further strengthening our own brand," said Pradeep Sood, director of Highbury Canco.

The two companies have not placed a dollar value on the deal.

Highbury Canco is made up of unnamed investors who came together to form a corporation for the deal.

Highbury Canco has said it's looking to the Leamington plant to become the cornerstone of providing Ontario's agricultural products to international markets.

The Canadian Press


Read more Business News

24813


Recent Trending




Today's Market
S&P TSX14797.83+18.48
S&P CDNX674.39-3.79
DJIA17678.70+6.10
Nasdaq4771.764+13.885
S&P 5002057.09+5.27
CDN Dollar0.8006-0.0011
Gold1277.20-2.2001
Oil47.05+0.12
Lumber316.00-0.30
Natural Gas2.914+0.033

 
Okanagan Companies
Pacific Safety0.14+0.025
Knighthawk0.010.00
QHR Technologies Inc1.39+0.01
Cantex0.035+0.005
Anavex Life Sciences0.18-0.001
Metalex Ventures0.035-0.005
Russel Metals24.45-0.03
Copper Mountain Mining1.09-0.01
Colorado Resources0.135-0.02
ReliaBrand Inc0.006+0.001
Sunrise Resources Ltd0.055+0.03
Mission Ready Services0.24+0.02

 



24393

FEATURED Property
2182703 #117 3163 Richter Street
2 bedrooms 2 baths
$189,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


How to price: workbook approach

In 2008 Self Counsel Press published my book - Pricing Strategies for Small Business. The book is now available in Europe, India, Russia and the United States. The purpose of the book was to make avai...


Ailing Parents: Tax Issues

If your parent has become ill, there can be several tax issues that come into play depending on the nature of their illness, their age and the role that family members are playing. For example, if you...


What do I pay ICBC for anyway?

If you have had ongoing dealings with ICBC as a result of a car accident than you have likely had the pleasure of dealing with at least two sides of ICBC. Initially the relationship starts off pleasan...

_



24709

24709


Member of BC Press Council


24697