January 5, 2011 / 10:21 PM / 7 years ago

UPDATE 1-Canada Bread to close facility in Quebec, take charge

* Closure of frozen bakery facility to affect 55 jobs

* To take pretax charge of C$5.8 mln

Jan 5 (Reuters) - Canada Bread CBY.TO said it would close its frozen bakery facility in Laval, Quebec and take a related pretax charge of about C$5.8 million.

The company expects the facility, which employs about 55 people, to close on March 31.

Canada Bread, which is 90 percent owned by Maple Leaf Foods Inc MFI.TO, expects to incur about C$5 million ($5.03 million) in restructuring costs in the fourth quarter and the rest in the second quarter of 2011.

Shares of the Toronto-based company, which employs about 8,000 people at its operations across North America and in the UK, closed at C$46.39 on Wednesday on the Toronto Stock Exchange. ($1=.9942 CANADIAN DOLLAR) (Reporting by Aftab Ahmed in Bangalore; Editing by Anne Pallivathuckal) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))

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