68th Annual General Meeting
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Montreal, Wednesday, February 14, 2007 - By ending fiscal 2006 with earnings before patronage dividends and income tax of $110 million and consolidated sales of $2.3 billion, Agropur Cooperative has all the tools necessary to pursue its development and conquer new markets.
"The Cooperative posted another fine performance in fiscal 2006. The results for this year will undoubtedly allow Agropur to continue its development on the domestic market, as well as on international markets, where the organization plans to position itself to take advantage of the growing international dairy industry," said Chief Executive Officer, Pierre Claprood.
"The Cooperative has no boundaries," said Agropur's founders in 1938. This same spirit continues to fuel the organization's desire to expand," added the Chairman, Serge Riendeau.
During fiscal 2006, Agropur announced an investment of over $40 million for the construction of a warehouse complex housing the distribution centers of its two cheese divisions, an administrative centre for the Fine Cheese Division and a state-of-the-art research and development centre, thereby making the Montreal borough of Longueuil the Cooperative's main place of business.
Through Division Natrel, the organization once again demonstrated its sense of innovation by launching Natrel Pro, the first milk in Canada to contain two active probiotic bacteria that promote intestinal health and strengthen the body's natural defences. In the same vein, its joint venture, Ultima Foods, created Yoptimal immuni+, the only yogurt to offer a unique combination of two complementary active probiotic cultures and natural fruit and green tea extracts containing polyphenols, powerful antioxidants useful in the maintenance of good overall health.
Founded in 1938, Agropur Cooperative is a leader in the Canadian dairy industry. It has some 3,939 members, over 4,000 employees and 21 plants, as well as several distribution centers throughout the country. It processes nearly two billion litres of milk per year and offers an impressive product line, including the famous Québon, Oka, Sealtest, Yoplait, Natrel and Island Farms labels.