The Successful Investor Hotline – Friday, April 1, 2010

Article Excerpt

SAPUTO INC., $29.70, Toronto symbol SAP, will distribute its foods in Toronto from a new facility in Vaughn, Ontario (it currently distributes from a number of different warehouses in the city). The company will complete this consolidation in stages, and expects to be finished by the end of September 2010. As well, Saputo will close its plant in Brampton, Ontario, in October 2010. This plant processes milk and cheese products. The company will merge this plant’s operations with its other Ontario facilities. In all, these moves will cost Saputo $4.6 million. However, the company expects the plan to save it $6.5 million a year. To put these figures in context, Saputo earned $104.3 million, or $0.50 a share, in the three months ended December 31, 2009. Saputo is a buy. THE WESTAIM CORP., $0.71, Toronto symbol WED, has completed its purchase of Montreal-based Jevco Insurance Co. from Kingsway Financial Services Inc. (Toronto symbol KFS). Jevco sells insurance to high-risk drivers, as well as owners…
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