Media Releases


WESTERN CANADIAN FOOD PROCESSOR EXPANDS IN SASKATCHEWAN

August 30, 2000

Centennial Food Corp. of Calgary is expanding its operations in Saskatchewan with a $34.4 million project that includes the building and equipping of a world class food processing plant in Saskatoon that will employ up to 190 people.

Crown Investments Corporation of Saskatchewan (CIC) is making an investment of $20 million in the company.

"This is an excellent investment for Saskatchewan because it will help position our province as a leader in value-added food processing," CIC Minister John Nilson said. "This new plant will also provide many economic benefits to Saskatoon and the entire province, including construction jobs, up to 190 full-time jobs when the plant is completed and spin-off business for suppliers. We are very pleased that Centennial has chosen to expand here and we are proud to be a partner with such a well-established company."

"We are excited about expanding into Saskatchewan and about our partnership with Crown Investments Corporation," said Ron Kovitz, Chairman of the Board of Centennial Food Corp. "This is a great opportunity for our company. The new state-of-the-art manufacturing plant in Saskatoon will allow us to grow our markets in the United States and southeast Asia and become a bigger player in the food processing industry in North America."

Centennial is a family owned food service, distribution and value-added manufacturing company that was established in 1967. The company has more than 500 employees. It has two manufacturing plants in Calgary and eight food distribution facilities throughout western Canada, including Saskatoon and Regina, and a sales office in Toronto.

Centennial makes frozen meat, vegetable and seafood products for a variety of major supermarkets under their private label brands and under its own brands. It sells them throughout Canada, parts of the United States and southeast Asia. Centennial also services thousands of restaurants, hotels and institutions.

Design of the new plant has started and construction will begin in the spring of 2001. Production start-up is expected by November 1, 2001.

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Anna Arneson
Executive Council
Regina
Phone: (306) 787-0850

Mark Wiens
Vice-President and CFO
Centennial Food Corp.
Calgary
Phone: (403) 214-0044