Bakers Journal

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Fiera Foods attracts Ontario government support


March 25, 2014
By Bakers Journal

March 25, 2014, Toronto – Fiera Foods Company, a
privately-owned bread and bakery product manufacturer, received a $1.5 million investment from the Ontario Ministry of Agriculture and Food.

This investment will support Fiera Foods' current $146
million expansion project, equipping the company with innovative new
production, storage and freezer capabilities over five years at current sites
as well as newly constructed operations, stated a press release issued by Fiera
Foods.

These changes will
support the company's competitiveness and profitability in the near and long
term.

"The Ontario Government's support comes at a time when
we are investing in the future of our company and our 1,200 employees, right
here in Canada," says Boris Serebryany, CEO and president, in a press
release. "We have been a proudly Canadian company for more than 25 years
and want to continue to grow and support our economy while representing Canada's
food industry as we expand into new markets."

Its $146 million investment will create 224 jobs in Ontario,
52 in particular with the freezer expansion, and is expected to double Fiera
Foods' annual revenue, reports the company. Ontario suppliers will also
benefit, as they are the major source of raw materials for the Company's
manufacturing facilities, including water, flour, margarine and butter, sugar,
eggs and packaging.