Hexo to streamline operations by closing Belleville facility, affecting 230 employees
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $205*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 21/04/2022 (1601 days ago), so information in it may no longer be current.
GATINEAU, Que. – Hexo Corp. says it will close its Belleville facility this summer affecting 230 employees as it further streamlines operations.
The Gatineau, Que.-based cannabis company had continued to lease the Ontario facility after selling its 25 per cent interest in Belleville Complex Inc. in January for about $10.1 million.
Hexo says the Truss Beverage Co. operations — a joint venture with Molson Coors Canada — are not impacted by this change and will continue to operate out of the Belleville facility.
Acting chief operating officer Charlie Bowman says the closure is designed to significantly reduce costs by streamlining operations and capitalizing on production efficiencies.
All manufacturing machinery and equipment located in Belleville will be transferred to other sites by the end of July.
Hexo’s previously announced strategic plan is designed to become cash flow positive from operations.
“This was a very difficult decision, but it is key component of executing on our strategic plan, and one that we believe best positions Hexo for profitable growth,” said president and CEO Scott Cooper in a news release.
This report by The Canadian Press was first published April 21, 2022.
Companies in this story: (TSX:HEXO)
