Canada’s Maple Leaf Foods is investing over $600 million to build a value-added fresh poultry facility in London, Ontario.
According to a company release, the new 640,000 sq ft facility is expected to be one of the most technologically advanced poultry-processing plants in the world.
Funding for the project includes a capital investment of approximately $605.5 million from Maple Leaf Foods, an investment of $34.5 million from the Government of Ontario and a $20 million investment from the Government of Canada under the Strategic Innovation Fund.
In addition, the Company is receiving a $8 million loan from the AgriInnovate Fund.
“This world-class facility will enable Maple Leaf to meet the steadily growing consumer demand for premium, value-added poultry products, and strengthen Canada’s food system,” said President and CEO Michael H. McCain.
“It will incorporate leading edge food safety, environmental and animal care technologies that advance our vision to be the global leader in sustainable protein.
“This is a historic investment in the Canadian poultry sector, providing significant stakeholder and economic benefits and ensuring that Canada has sufficient domestic processing capacity to meet forecasted poultry production and demand.”
He added: “Once constructed, this new poultry facility will be a significant contributor to our overall Adjusted EBITDA margin target and will provide tremendous long-term strategic value in an important growing component of our business.”
Construction is expected to begin in the spring of 2019, with start-up planned to commence in the second quarter of 2021.
