Tanbridge records million dollar loss in third quart - leatherbiz: Lea Leatherbiz

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Tanbridge records million dollar loss in third quarter

29/10/2001
Canada’s largest leather producer, the Tanbridge Corporation, has recorded a third quarter loss of C$1.1 million ($730 million) (44 cents per share) compared to a profit of C$631,933 (24 per share) during the same quarter in 2000. Third quarter sales of C$16,439,183 were down from C$19,863,658 in 2000.

Sales of C$53,635,852 for the year-to-date were down from C$68,776,212 a year earlier. Loss for the year-to-date was C$3,882,764 ($1.48 per share), compared to a profit of C$1,888,421 (72 per share) in 2000. The Board of Directors has continued the temporary suspension on the payment of dividends on the common shares.

Tanbridge operates plants in Winnipeg, Edmonton and Pennsylvania, as well as freeze-dried processing facilities for food and other biological products in Ontario and New York.



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