MONTREAL and VANCOUVER, British Columbia, April 20, 2018 (GLOBE NEWSWIRE) -- Rogers Sugar Inc. (the “Corporation” or “Rogers Sugar”) (TSX:RSI) is pleased to announce a two-year extension to the existing agreement with the Alberta Sugar Beet Growers (“ASBG”) covering the 2019 and 2020 crops.
Established in 1950, the Taber operation is the only sugar beet processing facility in Canada and employs 135 Albertans full time. In addition, approximately 240 seasonal employees are hired for the beet processing campaign. On an annual basis, the Taber facility can produce over a hundred thousand tonnes of sugar to be used for domestic consumption and the export market.
“Lantic Inc. is pleased to have reached an agreement with our partner, ASBG, in these contract negotiations. In this current business climate, it is imperative that we have the ability to sell our product in advance so that we can strategically plan for investment into the plant. This contract extension provides us with the certainty we need to move forward,” said Andrew Llewelyn-Jones, Taber Operations Manager, Lantic Inc.
“We are pleased to be able to offer our growers, processor, and all of the stakeholders impacted by the sugar beet industry the stability and sustainability that they have been asking for with the completion of this contract extension,” said Arnie Bergen-Henengouwen, President of ASBG. “We wanted to have a new deal in place sooner rather than later, so that investment in the industry can occur from both our processor and our growers.”
About Rogers Sugar Inc.
Rogers Sugar is a corporation established under the laws of Canada. The Corporation holds all of the common shares of Lantic and its administrative office is in Montréal, Québec. Lantic operates cane sugar refineries in Montreal, Québec and Vancouver, British Columbia, as well as the only Canadian sugar beet processing facility in Taber, Alberta. Lantic’s sugar products are marketed under the “Lantic” trademark in Eastern Canada, and the “Rogers” trademark in Western Canada and include granulated, icing, cube, yellow and brown sugars, liquid sugars and specialty syrups. Lantic owns all of the common shares of LBMT and its head office is headquartered in Granby, Québec. LBMT operates bottling plants in Granby and in St-Honoré-de-Shenley, Québec and in Barre, Vermont. LBMT’s products include maple syrup and derived maple syrup products and are sold under various brand names, such as L.B. Maple Treat, Great Northern, Sucro-Bec and Highland Sugarworks.
Forward-Looking Statements
Forward-Looking Statements This press release may contain forward-looking statements, relating to the Corporation’s operations or to the environment in which it operates, which are based on the Corporation’s operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond the Corporation’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. These factors include those set forth in other public filings. In addition, these forward-looking statements relate to the date on which they are made. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.
FOR ALL INVESTOR, COMMUNICATION AND MEDIA INQUIRIES, PLEASE CONTACT:
Ms. Manon Lacroix
Vice President, Finance,
Chief Financial Officer and Secretary
Lantic Inc.
Tel: (514) 940-4350
Website: www.lantic.ca or www.rogerssugarinc.com