TORONTO, March 26, 2008 (PRIME NEWSWIRE) -- SunOpta Inc. (Nasdaq:STKL) (TSX:SOY) ("the Company") today announced that it has commenced production and supply of a new shelf stable single serve soymilk for a major global retailer.
This soymilk is packaged in the Tetra Pak Prisma package utilizing vertically integrated SunOpta soy ingredients and a third party co-packaging partner. This business is expected to add an incremental $10 - $12 million in revenue per year upon achieving forecast production targets.
Production of organic beverages at SunOpta's aseptic packaging operation continues to grow as plant capabilities and capacities are expanded, with production volumes approaching record levels. In addition, volumes processed via third party co-packaging partners using vertically integrated SunOpta soy ingredients continues to grow as the Company expands the range of its product offering.
Allan Routh, President of the SunOpta Grains and Foods Group said, "This new business launching a single serve soymilk expands our partnership with a significant retailer utilizing our 'Field to Table' production expertise to provide consumers with a great value organic soymilk. We have realized excellent growth in this relationship and are very appreciative of the great consumer success this business has experienced."
SunOpta's vertically integrated soymilk model is integrated from soy bean sourcing through to packaged products, ensuring SunOpta's control of quality and organic certification and providing direct traceability from the farm gate to the retail shelf. In order to fulfill this new business plus current needs, soy beans are sourced and initially processed at SunOpta's facilities in Hope, Minnesota and Moorhead, Minnesota. The processed soy beans are then delivered to SunOpta's ingredient plants in Alexandria, Minnesota, Heuvelton, New York and Afton, Wyoming where they are converted into liquid concentrated soy base. The concentrated soy base is then transported to SunOpta's aseptic packaging facility and third party co-pack partners for blending, packaging and subsequent delivery to customers.
About SunOpta Inc.
SunOpta Inc. is an operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food, supplements and health and beauty markets. The Company has three business units: the SunOpta Food Group, which specializes in sourcing, processing and distribution of natural and organic food products integrated from seed through packaged products; Opta Minerals Inc. (TSX:OPM) (66.3% owned by SunOpta), a producer, distributor, and recycler of environmentally friendly industrial materials; and SunOpta BioProcess Inc. which engineers and markets proprietary steam explosion technology systems for the pulp, bio-fuel and food processing industries. Each of these business units has proprietary products and services that give it a solid competitive advantage in its sector.
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Forward Looking Statements
Certain statements included in this press release may constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to references to the expected terms of the proposed private placement and business strategies, competitive strengths, goals, capital expenditure plans, business and operational growth plans and references to the future growth of the business. These forward looking statements are based on certain assumptions and analyses made by the Company in light of its experience and its interpretation of current conditions, historical trends and expected future developments as well as other factors that the Company believes are appropriate in the circumstance. However, whether actual results and developments will agree with expectations and predications of the Company is subject to many risks and uncertainties including, but not limited to; the company's ability to negotiate successfully the specific terms of the private placement with investors, general economic, business or market risk conditions; competitive actions by other companies; changes in laws or regulations or policies of local governments, provinces and states as well as the governments of United States and Canada, many of which are beyond the control of the Company. Consequently all forward-looking statements made herein are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by the Company will be realized.