Maple Leaf sells Canadian rendering operation
TORONTO - Maple Leaf Foods Inc. (TSX:MFI) has agreed to sell its Rothsay business unit to a Texas-based company.
The Rothsay business operates six rendering plants and a biodiesel plant employing a total of 550 in four provinces.
The rendering plants in Manitoba, Ontario, Nova Scotia and Quebec recover fats and proteins produced as a by-product of the slaughtering process.
The biodiesel plant in Quebec creates products for use as fuel.
Maple Leaf says the Rothsay employees will transfer to the new owner, Darling International Inc. of Irving, Texas.
Toronto-based Maple Leaf will receive about $645 million for Rothsay and use the money to pay down corporate debt.
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