KELOWNA, BC, Jan. 18 /CNW/ - Sun-Rype Products Ltd. today confirmed that,
in a vote taken on January 17th, its unionized employees did not accept the
recommended settlement put forth by a BC Labour Relations Board Vice-Chairman.
"While we are disappointed by this decision, Sun-Rype has prepared for
this outcome with long-term plans to deliver on commitments to our customers
and to ensure the viability of this business going forward," says Eric
Sorensen, President and Chief Executive Officer. "We have spent 21 months in
the negotiation process working towards a new contract for our unionized
employees. The Company made two offers to the Union, both of which contained
highly competitive wage increases and improvements to benefits. Neither of
these offers was voted by the Union. The Mediator's recommended settlement
that went to a vote contained further concessions from the Company to address
As part of its long-term strategy, Sun-Rype will be moving ahead with
some exciting new beverage packaging initiatives and is implementing
additional production options to meet retailer demands.
Sun-Rype Products Ltd., based in Kelowna, BC, is a manufacturer and
marketer of 100% juices and 100% fruit snacks under the Sun-Rype brand.
Sun-Rype is a publicly traded Canadian company with its common shares listed
on the Toronto Stock Exchange under the symbol SRF.
Forward Looking Statements
Statements contained in this press release, which are not based on
historical fact, including without limitation, statements containing the words
"may", "will", "plans", "intends", "expects", "anticipates", "believes",
"estimate", "continue" and similar expressions, constitute "forward looking
information" within the meaning of applicable Canadian securities laws.
Forward looking statements contained in this document may involve, but are not
limited to, statements relating to the Company's objectives, priorities,
strategies, actions, targets, expectations and outlook. Forward looking
statements are necessarily based upon assumptions and predictions with respect
to the future, including but not limited to the factors referred to below. As
a result, forward looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, events or
developments to be materially different from any future results, events or
developments expressed or implied thereby. These risks, uncertainties and
other factors include, but are not limited to, changes in the consumer
packaged goods industry and external market factors, as well as the factors
referred to in the Company's Annual Information Form dated February 28, 2007,
and its other filings with the applicable Canadian securities regulatory
authorities. In light of these uncertainties, assumptions and risks, readers
are cautioned not to place undue reliance on such forward looking statements.
Except as required by law, the Company assumes no obligation to update or
revise such information to reflect later events or developments.
For further information:
For further information: Eric Sorensen, President & Chief Executive
Officer, Sun-Rype Products Ltd., 1165 Ethel Street, Kelowna, BC, V1Y 2W4, Tel:
(250) 860-7973, Fax: (250) 762-3611, firstname.lastname@example.org; or Gary Pearson, Chief
Financial Officer, Sun-Rype Products Ltd., 1165 Ethel Street, Kelowna, BC, V1Y
2W4, Tel: (250) 860-7973, Fax: (250) 762-3611, email@example.com;