Saputo Inc. Announces Closure of Six U.S. Facilities
Source: The DairyNews
Saputo Inc., a prominent Canadian dairy manufacturer, announced during its review of the 2024 fiscal results that it will shut down six of its U.S. facilities. This move is part of a broader strategy to transform its U.S. operations, particularly focusing on enhancing its cheese production network.
The closures include plants in Lancaster and Green Bay, Wisconsin; Tulare and South Gate, California; with facilities in Big Stone, South Dakota, and Belmont, Wisconsin already having been shuttered. Concurrently, Saputo is boosting the capabilities of its automated cut-and-wrap facility in Franklin, Wisconsin, signaling a shift towards more technologically advanced manufacturing processes.
In addition to restructuring its manufacturing footprint, Saputo emphasized strengthening its innovation pipeline and expanding product development as key U.S. sector priorities. The company is also focused on growing its brands and increasing volume with key customers, as noted in its financial report.
Lino A. Saputo, Chairman of the Board, President, and CEO of Saputo, described the company’s fourth-quarter performance as "solid," despite facing a $61 million negative impact from market factors and $15 million in duplicate operational costs in the U.S. For fiscal 2024, Saputo reported revenues of $4.545 billion, marking an increase of $77 million, or 1.7%.
Looking forward, Lino A. Saputo expressed optimism for fiscal 2025, citing improving dairy commodity conditions and the anticipated benefits from major capital projects. "We are executing on our global strategic plan, and expect these initiatives to increasingly contribute to our results in FY25 and accelerate in FY26,” he added.
In addition to restructuring its manufacturing footprint, Saputo emphasized strengthening its innovation pipeline and expanding product development as key U.S. sector priorities. The company is also focused on growing its brands and increasing volume with key customers, as noted in its financial report.
Lino A. Saputo, Chairman of the Board, President, and CEO of Saputo, described the company’s fourth-quarter performance as "solid," despite facing a $61 million negative impact from market factors and $15 million in duplicate operational costs in the U.S. For fiscal 2024, Saputo reported revenues of $4.545 billion, marking an increase of $77 million, or 1.7%.
Looking forward, Lino A. Saputo expressed optimism for fiscal 2025, citing improving dairy commodity conditions and the anticipated benefits from major capital projects. "We are executing on our global strategic plan, and expect these initiatives to increasingly contribute to our results in FY25 and accelerate in FY26,” he added.
