March 22 (Reuters) - Saputo Inc SAP.TO :
* Saputo announces plant closures in Canada
* Current production will be integrated into other Saputo
facilities
* In all, approximately 230 employees will be impacted
* Costs connected with closures will be recorded in Q4 of
fiscal 2016
* Intends to add approximately $32 million in new fixed
assets in other Saputo facilities over course of next two fiscal
years
* Says costs connected with the closures will be
approximately $23 million
* Annual savings after taxes should commence in fiscal 2017,
gradually increase over next two fiscal years, reaching about $7
million in fiscal 2019
* Closures are scheduled in June 2016, August 2016 and
December 2017 respectively
* Says will close three of its facilities in Canada, in
Sydney (Nova Scotia), Princeville (Quebec) and Ottawa (Ontario)
Source text for Eikon: ID:nMKWsg8YHa
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