MEGA Brands statement regarding incident at Montreal manufacturing facility
MONTREAL, Nov. 23, 2012 /CNW Telbec/ - MEGA Brands Inc. (TSX: MB) reported today that operations have resumed at its Montreal facility following a minor fire in a production storage area shortly before noon on November 19, 2012. The fire was restricted to several pallets of product and packaging components and was quickly extinguished with no injuries.
Manufacturing was temporarily suspended pending damage assessments and cleaning operations. Injection molding operations resumed within 72 hours of the incident and assembly operations are scheduled to resume on Monday.
The incident had no impact on the finished products inventory at the Montreal facility or any other of the Corporation's distribution facilities worldwide. The Corporation carries adequate insurance for its Montreal facility and operations, and continues to work closely with its insurers to assess the full impact of this incident. Based on assessments made to date, the Corporation believes the impact of this incident will not be material to the flow of finished products to its customers and likewise will have no material financial impact on the Corporation. The Corporation is grateful to its employees for their rapid restoration of operations.
About MEGA Brands
MEGA Brands Inc. is a trusted family of leading global brands in construction toys, games & puzzles, arts & crafts and stationery. They offer engaging creative experiences for children and families through innovative, well-designed, affordable and high-quality products. Visit http://www.megabrands.com for more information.
The MEGA logo, Mega Bloks, Rose Art, MEGA Puzzles, MEGA Games and Board Dudes are trademarks of MEGA Brands Inc. or its affiliates.
All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking information" within the meaning of applicable Canadian securities laws. These statements represent the Corporation's intentions, plans, expectations and beliefs. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking information and statements are based on a number of assumptions and involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by them, including, but not limited to risks, assumptions and uncertainties described in the Corporation's MD&A for the year ended December 31, 2011, which are available at www.sedar.com and on the Corporation's Web site. The Corporation disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law.
SOURCE: MEGA BRANDS INC.For further information:
Vice President and Chief Financial Officer
Tel: (514) 333-5555 ext. 2283