It is reported by Nasdaq.

Established in 1950, the Taber operation is the only sugar beet processing facility in Canada and employs 135 Albertans full time. In addition, approximately 240 seasonal employees are hired for the beet processing campaign. On an annual basis, the Taber facility can produce over a hundred thousand tonnes of sugar to be used for domestic consumption and the export market.

«Lantic Inc. is pleased to have reached an agreement with our partner, ASBG, in these contract negotiations. In this current business climate, it is imperative that we have the ability to sell our product in advance so that we can strategically plan for investment into the plant. This contract extension provides us with the certainty we need to move forward», — said Andrew Llewelyn-Jones, Taber Operations Manager, Lantic Inc.

«We are pleased to be able to offer our growers, processor, and all of the stakeholders impacted by the sugar beet industry the stability and sustainability that they have been asking for with the completion of this contract extension, — said Arnie Bergen-Henengouwen, President of ASBG, — We wanted to have a new deal in place sooner rather than later, so that investment in the industry can occur from both our processor and our growers».