• We are reducing our hog production operations from partial ownership of 120,000 sows to full ownership of about 40,000 sows.
• We are proceeding to sell our animal nutrition business; keeping only two mills to meet our internal hog production feed requirements.
• We will remain in the fresh pork business to primarily support our internal raw material needs. As a result, we aim to reduce the hogs we process from 7.5 million to 4.3 million annually. While we will still sell fresh meat to strategic, value-added customers in select domestic and global markets, this will be done in balance to complement our internal supply requirements.
• We are consolidating our existing pork processing operations into one double-shifted operation at our plant in Brandon, Manitoba, and plan to sell, convert or close our remaining six plants.

We have achieved a number of milestones since launching this reorganization in October 2006. These include:

• Formally launched the sale process of Maple Leaf Animal Nutrition;
• Commenced the restructuring of our Western hog operations, with a goal to largely complete the restructuring of the entire hog production business by early 2008;
• Established a united leadership team to manage our fresh and further processed meats businesses;
• Exited our non-core global businesses, focusing a smaller team on selling Maple Leaf meat products into international markets;