Severe Alberta Weather Forces Termination of 2019 Beet Harvest
MONTREAL and VANCOUVER, Nov. 07, 2019 (GLOBE NEWSWIRE) — Rogers Sugar Inc. (the “Corporation” or “Rogers”) (TSX: RSI) announced that due to the impact of recent severe adverse weather in Alberta on the 2019 sugar beet crop, a decision has been made to terminate the beet harvest.
This decision was made following an exhaustive analysis by the Alberta Sugar Beet Growers and the Corporation, which jointly determined that severe snow and frost damage has resulted in an inability to store or process the unharvested damaged sugar beet crop. As a result, we now estimate that the current crop should derive a quantity of refined sugar ranging between 60,000 metric tonnes to 70,000 metric tonnes. The Corporation is currently reviewing all available options to service its customers, one of which will include the supply of cane sugar from the Vancouver and Montréal refineries, which both have excess capacity.About Rogers Sugar Inc.
Rogers is a corporation established under the laws of Canada. The Corporation holds all of the common shares of Lantic Inc. (“Lantic”) and its administrative office is in Montréal, Québec. Lantic operates cane sugar refineries in Montreal, Québec and Vancouver, British Columbia, as well as the only Canadian sugar beet processing facility in Taber, Alberta. Lantic’s sugar products are marketed under the “Lantic” trademark in Eastern Canada, and the “Rogers” trademark in Western Canada and include granulated, icing, cube, yellow and brown sugars, liquid sugars and specialty syrups. Lantic owns all of the common shares of The Maple Treat Corporation (“TMTC”) and its head office is headquartered in Montréal, Québec. TMTC operates bottling plants in Granby, Dégelis and in St-Honoré-de-Shenley, Québec and in Websterville, Vermont. TMTC’s products include maple syrup and derived maple syrup products and are sold under various brand names, such as L.B. Maple Treat, Great Northern, Decacer and Highland Sugarworks.Forward-Looking Statements
This press release may contain forward-looking statements, relating to the Corporation’s operations or to the environment in which it operates, which are based on the Corporation’s operations, estimates, forecasts and projections, including with regards to the beet harvest. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond the Corporation’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. These factors include those set forth in other public filings. In addition, these forward-looking statements relate to the date on which they are made. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.FOR ALL INVESTOR, COMMUNICATION AND MEDIA INQUIRIES, PLEASE CONTACT:
Ms. Manon Lacroix
Vice President, Finance, Chief Financial Officer and Secretary
Tel: (514) 940-4350