Manac suspends Orangeville production

Manac, a division of The Canam Manac Group Inc. announced today that it will temporarily cease its activities at its Orangeville, Ontario van plant, as of July 10, 2003. The layoff will affect 235 employees for approximately 25 weeks.

Continued stringent economic circumstances prevailing in the North American semitrailer industry and the major fluctuations in the Canadian/American currency exchange rate motivated Manac's decision to centralize its van production. This decision will minimize the losses suffered by the Saint-Georges production plant.

The Saint-Georges plant will take on the entire van production during this period; however, no increase in personnel is planned.

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