Olymel fortunes have reversed

Sollio co-operative, owner of Olymel and a number of other major agriculture businesses, reports that drastic cut-backs at Olymel turned its financials around from a $446.1 million loss last year to a surplus of $138.3 million this year.

Last year Olymel closed plants at Vallee-Jonction, Sainte-Hyacinthe and Princeville and shut down some hog farms in Alberta and Saskatchewan. Quebec also implemented a sharp reduction in hog production.

Sales were helped by exports to China from its operations in Western Canada, the company said.