SunOpta Signs New Soymilk Contract with Vitasoy USA Inc.
TORONTO--July 6, 2004--SunOpta Inc. (SunOpta or
the Company) (Nasdaq:STKL) (TSX:SOY) today announced that it has
entered into an agreement with Vitasoy USA Inc. ("Vitasoy") to supply
Vitasoy's soymilk concentrate requirements and package Vitasoy's shelf
stable soymilk for the North American Market. This contract will
utilize all facets of SunOpta's vertically integrated soymilk model
from the sourcing of organic beans through processing and finally
packaging.
Allan Routh, President of the Grains & Soy Products Group of
SunOpta, commented that "We have had a long and continuous business
history with Vitasoy and this new agreement is an extension of the
excellent relationship that exists between our companies."
The new agreement will be effective August 2004 and is expected to
add revenues of approximately $7.0 - $8.0 million annually to
SunOpta's vertically integrated soy business. Vitasoy USA Inc. is a
subsidiary of Vitasoy International, a large soyfoods manufacturer
with operations in Asia, Australia and the United States.
SunOpta Inc. is an owner/operator of high-growth ethical
businesses, focusing on integrated business models in the natural and
organic food markets. For the last six consecutive years, SunOpta was
included in Profit magazine's 'Profit 100' list of the 100 fastest
growing companies in Canada. The company has three business units: the
SunOpta Food Group, which specializes in sourcing, processing and
distribution of natural and organic food products integrated from seed
through packaged products; the Opta Minerals Group, a producer,
distributor, and recycler of environmentally friendly industrial
materials; and the StakeTech Steam Explosion Group that engineers and
markets clean pulping systems using patented steam explosion
technology. Each of these business units has proprietary products and
services that give it a solid competitive advantage in its sector.
Note: This news release may contain forward-looking information.
Actual future results may differ materially. The risks, uncertainties,
and other factors that could influence actual results are described in
the Company's annual report to shareholders and in SEC filings.
CONTACT: SunOpta Inc.
Jeremy N. Kendall, Steve Bromley, John Dietrich,
Susan Wiekenkamp, 905-455-2528, ext 103
email: swiekenkamp@sunopta.com
website: www.sunopta.com
SOURCE: SunOpta Inc.