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Olyphant, PA (May 27, 2010) – Cinram Manufacturing, LLC, today announced a reduction in force at its Olyphant manufacturing facility. This reduction will impact 155 employees and is in response to the loss of the Warner Home Video account. The positions impacted by this decision represent a cross section of the manufacturing organization.
Cinram will work with federal and state agencies to help employees impacted by this reduction in force receive services to assist them with finding other employment.
About Cinram
Cinram International Inc., an indirect, wholly-owned subsidiary of the Fund, is the world's largest provider of pre-recorded multimedia products and related logistics services. With facilities in North America and Europe, Cinram International Inc. manufactures and distributes pre-recorded DVDs, audio CDs, and CD-ROMs for motion picture studios, music labels, publishers and computer software companies around the world. Cinram also provides distribution and logistics services to the telecommunications industry in North America through its wireless subsidiary. The Fund’s units are listed on the Toronto Stock Exchange under the symbol CRW.UN. For more information, visit our website at www.cinram.com.
Certain statements included in this release constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Fund, or results of the multimedia duplication/replication industry, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such factors include, among others, the following: general economic and business conditions, which will, among other things, impact the demand for the Fund’s products and services; multimedia duplication/replication industry conditions and capacity; the ability of the Fund to implement its business strategy; the Fund’s ability to retain major customers; the Fund’s ability to invest successfully in new technologies and other factors which are described in the Fund’s filings with applicable securities commissions. Due to the potential impact of these factors, the Fund disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.
For more information:
John H. Bell
Tel: 416.332.2902
johnbell@cinram.com