TORONTO, Aug 07, 2007 (BUSINESS WIRE) -- SunOpta Inc. (STKL) (CA:SOY) today announced that it has acquired the operating assets of a soymilk manufacturing facility located in Heuvelton, New York from ProSoya Corporation. The assets acquired included all buildings, machinery and equipment and were purchased with cash.
The addition of the Heuvelton, New York facility strategically expands SunOpta's soy manufacturing to the east coast of the United States and will significantly enhance the Company's ability to effectively serve its growing customer base in the Northeastern United States and Eastern Canadian markets. SunOpta will immediately upgrade manufacturing capabilities to improve processing efficiencies and product quality.
Allan Routh, President of the SunOpta Grains and Foods Group commented, "The addition of a soymilk manufacturing facility located in the north east of the United States expands our ability to serve our growing customer base in Eastern North America. This geographic expansion of soy manufacturing is another strategic step to ensure that we will maintain adequate supply capabilities, positioned to meet the increasing demands of our soy customers and enable continued growth of their businesses."
Steve Bromley, President and CEO of SunOpta commented, "The addition of the Heuvelton, New York facility compliments our strategy to be the leader in North America in the supply of organic soy based raw materials through integrated ingredients and finished packaged products. We expect to continue to expand our soy processing capabilities in order to meet this objective."
About SunOpta Inc.
SunOpta Inc. is an operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food, supplements and health and beauty markets. The Company has three business units: the SunOpta Food Group, which specializes in sourcing, processing and distribution of natural and organic food products integrated from seed through packaged products; Opta Minerals Inc. (CA:OPM: news, chart, profile) (70.4% owned by SunOpta), a producer, distributor, and recycler of environmentally friendly industrial materials; and SunOpta BioProcess Inc. (80% owned by SunOpta), which engineers and markets proprietary steam explosion technology systems for the pulp, bio-fuel and food processing industries. Each of these business units has proprietary products and services that give it a solid competitive advantage in its sector.
Certain statements included in this press release may constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to references to business strategies, competitive strengths, goals, capital expenditure plans, business and operational growth plans and references to the future growth of the business. These forward looking statements are based on certain assumptions and analyses made by the Company in light of its experience and its interpretation of current conditions, historical trends and expected future developments as well as other factors that the Company believes are appropriate in the circumstance. However, whether actual results and developments will agree with expectations and predications of the Company is subject to many risks and uncertainties including, but not limited to; general economic, business or market risk conditions; competitive actions by other companies; changes in laws or regulations or policies of local governments, provinces and states as well as the governments of United States and Canada, many of which are beyond the control of the Company. Consequently all forward-looking statements made herein are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by the Company will be realized.