Maple Leaf Foods secures short-term funding

TORONTO — Maple Leaf Foods Inc. posted a $14.8-million loss in what the company concedes was a “very difficult” first quarter, but CEO Michael McCain described the problems as both “transitory” and “self-correcting.” “This was a very difficult quarter, with lower earnings in our protein business overshadowing good improvement in our bakery results,” McCain said.

Saab's owner Swedish Automobile said Wednesday it had secured more short-term funding with a 25-million-euro ($36-million) loan and that it has paid its staff's salaries for June."Swedish Automobile announces that it entered into a 25 million euro convertible bridge loan agreement with Gemini Investment Fund Limited, thereby securing additional short-term funding," it said in a statement.

In trading on Monday, shares of Maple Leaf Foods Inc. (Toronto: MFI) crossed below their 200 day moving average of $11.36, changing hands as low as $11.20 per share. Maple Leaf Foods Inc. shares are currently trading down about 2.3% on the day. The chart below shows the one year [...]

Streetwise Blog submits: By Boyd ErmanThere's speculation that activist shareholder West Face Capital may push for a breakup of Maple Leaf Foods Inc (MLFNF.PK).Complete Story »

Maple Leaf Foods Inc. (MLFNF.PK) Q1 2010 Earnings Call April 29, 2010 14:30 a.m. ETComplete Story »

WINNIPEG, Manitoba (Reuters) - Maple Leaf Foods , one of Canada's biggest hog processors and bakers, is buying distressed hog producer Puratone Corporation to secure hog supplies as farmers struggle to manage heavy losses. Maple Leaf will pay C$42 million ($42 million) for Puratone, based in the western Canadian province of Manitoba, in a deal expected to close within a month, Maple Leaf said on Thursday. Soaring grain costs, due to the severe U.S. drought, have caused North American hog farmers to incur losses of as much as C$50 for every pig they raise, forcing some to exit the industry. ...

Maple Leaf Foods Inc. and shareholder West Face Capital announced an agreement Thursday that will see the investment fund's chief executive appointed to Maple Leaf's board

Maple Leaf Foods Inc. posted a return to fourth-quarter profitability Wednesday, continuing its recovery from a tainted food scare in 2008.