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SunOpta Announces that Opta Minerals Inc. Acquires Shares of Bimac Corporation.


TORONTO -- SunOpta Inc. (SunOpta or the Company) (Nasdaq:STKL)(TSX TSX Toronto Stock Exchange (TSE before April, 2002)
TSX Transfer from Stack Pointer to Index
TSX True Space Extension
:SOY). SunOpta announced today Opta Minerals Inc. ("Opta") (TSX:OPM See Oracle Process Manufacturing. )(TSX:OPM.WT), its 70.6% owned subsidiary, has acquired 100% of the outstanding common shares of Bimac Corporation ("Bimac") of Milan, Michigan Milan is a city that straddles the boundary of Monroe and Washtenaw counties in the State of Michigan. The population was 4,775 at the 2000 census. About sixty percent of the city, containing seventy-five percent of the population, live on the Washtenaw side adjacent to York . For fiscal 2005 Bimac recorded revenues of approximately US $7.5 million selling its proprietary Tundish tun·dish  
n.
1. A funnel.

2. A container for pouring molten metal into a mold, having holes in the bottom to prevent splashing.
 and ladle insulators, fluxes and conditioners. These products are use to prevent heat loss, reduce oxidization, and remove impurities in hot metal prior to casting. Each product is produced to the specific requirements of customers that Bimac services within both the Canadian and United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area.  steel industries.

Bimac operates its main production facility in Milan, Michigan. This profitable company employs approximately 30 people, and is a leader in new product development within its industry. Bimac maintains a very high level of customer specific technical service with a broad customer base that includes customers with both integrated and mini mill steel operations. The addition of Bimac further increases Opta's position in the industrial minerals business and further expands its current position as a key service provider to the steel industry.

David Kruse, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of Opta Minerals Inc. commented "This transaction makes strategic sense for Opta Minerals. The products are complimentary to those currently sold through our facilities in Walkerton Indiana, Brantford Ontario and Lachine Quebec and Bimac enables us to further expand our product offering to our key steel industry customers, while continuing to provide unparalleled customer service".

The purchase price was a combination of cash and contingent payments based on future profits. The acquisition is expected to be immediately accretive to Opta Minerals earnings.

About SunOpta Inc.

SunOpta Inc. is an operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food markets. The Company has three business units: the SunOpta Food Group, which specializes in sourcing, processing and distribution of natural and organic food products integrated from seed through packaged products; the Opta Minerals Group, a producer, distributor, and recycler of environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1]  industrial materials; and the SunOpta BioProcess bi·o·proc·ess  
n.
1. A technique that produces a biological material, such as a genetically engineered microbial strain, for commercial use.

2.
 Group which engineers and markets proprietary steam explosion technology systems for the pulp, bio-fuel and food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes.  industries. Each of these business units has proprietary products and services that give it a solid competitive advantage in its sector.

Forward-Looking Statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 

Certain statements included in this press release may constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. These forward-looking statements include, but are not limited to references to business strategies, competitive strengths, goals, capital expenditure plans, business and operational growth plans and references to the future growth of the business. These forward looking statements are based on certain assumptions and analyses made by the Company in light of its experience and its interpretation of current conditions, historical trends and expected future developments as well as other factors that the Company believes are appropriate in the circumstance. However, whether actual results and developments will agree with expectations and predications of the Company is subject to many risks and uncertainties including, but not limited to; general economic, business or market risk conditions; competitive actions by other companies; changes in laws or regulations or policies of local governments, provinces and states as well as the governments of United States and Canada, many of which are beyond the control of the Company. Consequently all forward-looking statements made herein are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by the Company will be realized.
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Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1CANA
Date:Oct 4, 2006
Words:593
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