Wednesday, December 3, 2008

Great, Great, Great, News....

When the Liberals took over I thought they were crazy keeping the meat plant open but obviously I was wrong as it appears they are starting to make some progress and that is simply great news... it's been a tough file for Minister LeClair, the shareholders, employees, and a lot of staff from BDI.... Kutos have to go out to all involved, sticking with the business plan and working hard to keep this important industry afloat and I'm sure all Islanders are pleased with the progress...
Atlantic Beef Products climbs briefly out of red
Wednesday, December 3, 2008
CBC News
The Maritimes' only federally inspected beef processing plant had its first break-even month since opening in 2003, but the company's new president says steady profits are a ways off.
John Thompson arrived from Moncton this week to take over the Atlantic Beef Products plant in Albany, at the foot of Confederation Bridge, and was informed the plant broke even in October. Changes made over the past year have improved the bottom line, but people shouldn't get too excited about October's results, Thompson told CBC News Tuesday.
"We've tightened things up on the production side, and I'm looking at things right now like overhead, of course, [and] … at the market and how we're going to diversify the market," he said.
"I think that we need to be a little cautious here in regards to saying that, you know, we've had one great month. You need more than one great month to make a company work."
Thompson thinks it will be another 18 months to two years before the plant is regularly turning a profit. The plant has lost more than $10 million since it opened and at this time last year was losing $100,000 a month.

1 comment:

Anonymous said...

It's kudos not kutos unless your hacking into a juicy T-bone or working extra 'hard' on a luscious lambchop...