In 1978, at a time of rampant food price inflation, Loblaws unveiled a new line of 16 generic "no-name" products. "After the armistice, he convinced his skeptical father to import machines to make English-style cookies in Canada. Weston's English Quality Biscuits proved a long-term success and the product line became the basis for the company's continued growth. Real Estate Investment Trust, Canada’s largest and preeminent George Weston Limited (OTCPK:WNGRF) Q3 2020 Earnings Conference Call November 17, 2020 9:00 a.m. His first employee was Charles Upshall, another young baker, and the two worked long hours baking and delivering bread. Eddy Co., was bought out by George Weston Limited in a cash and stock deal. Schulich’s new George Weston Ltd Centre for Sustainable Supply Chains to develop next generation of supply chain leaders TORONTO, Oct. 23, 2020 (GLOBE NEWSWIRE) -- The Schulich School of Business at York University is pleased to announce the creation of the George Weston Ltd Centre for Sustainable Supply Chains, made possible by significant support from George Weston Ltd. One may judge the largeness of the business done weekly when it takes nearly three hundreds barrels of flour to supply the weekly demand. In 2006, chronic supply chain problems and the first year-end loss for Loblaw in almost two decades resulted in the resignation of John Lederer as president and W. Galen Weston as chairman. each year to the company’s stores. In spite of the retreat, the company reiterated its overall strategy to take advantage of any opportunity that presented itself: The company is prepared to enter new markets through the opening of new stores, as in its stated plan, to enter the Quebec market, or from focused acquisitions when opportunities arise. One long-time Weston executive, Frank Riddell, observed that since nobody had any money in those days that deals were often struck with relatively little cash and a guarantee of Weston stock. Bennett, the Canadian former Prime Minister. In 1928, he took the company ‘public’ and made his first major acquisition – William Paterson Ltd., a Brantford, Ontario, biscuit and confectionery maker founded in 1863 by William Paterson.. For example, nothing is more disappointing for a consumer than to buy a private label product because of the attractiveness of its redesigned label and then find that the same quality that had disappointed her previously had not been improved..  In spite of the war, the company continued to expand. The company's principal address is 22 St. Clair Avenue East Suite 800, Toronto, ON M4T 2S5 CA. By the turn of the century, he was known throughout the city for his "Weston’s Home-Made Bread" and years later for "Weston’s Biscuits." Management continued to divest non-core assets through the decade as it shifted the company's focus to earnings rather than sales growth. George Weston Ltd. reported a 2012 first-quarter profit of $124-million, or 89 cents per share, Tuesday morning, up from $105-million, or … In 1978, both George Weston Limited and Loblaw Companies Limited returned to profitability and two years later Weston's reported record earnings of $76 million on revenue of $6 billion. George Weston & Sons stocks a large range of Rod, Square, Flat, Radius Corner, Full Radius, Round Tube and Shim. Cakes were still made but at times without icing. Schulich’s new George Weston Ltd Centre for Sustainable Supply Chains to develop next generation of supply chain leaders TORONTO, Oct. 23, 2020 (GLOBE NEWSWIRE) -- The Schulich School of Business at York University is pleased to announce the creation of the George Weston Ltd Centre for Sustainable Supply Chains, made possible by significant support from George Weston Ltd. , The war years also saw the company diversify beyond baking with the purchase of a controlling interest in Western Grocers Ltd., a wholesale food distributor with some 700 associated Red & White stores throughout the prairies. The company's filing status is listed as Active and its File Number is 2406969. George Weston Foods Limited (GWF) is one of Australia and New Zealand’s largest food manufacturers employing over 6,000 people across 40 sites. More than 90% of the company's sales come from its majority-owned Loblaw Companies Limited, Canada's largest retailer with more than 2,400 grocery stores, markets, and drug stores across the country. George Weston Limited, often referred to as Weston or Weston's, is a Canadian food processing and distribution company. Two more Toronto area stores follow within a few months. Spink, a flour mill operator at Pickering, Ontario, to form the Model Bakery Company. Sales proved stronger than anticipated and within a year the number of No Name product offerings had increased to over a hundred. Moreover, Mr. Weston told the shareholders at the annual meeting on March 28 that when plans at present under way are complete, he will have bread and biscuit companies in every strategic centre of England, Scotland, Northern and Southern Ireland. GEORGE WESTON LIMITED : News, information and stories for GEORGE WESTON LIMITED | Toronto Stock Exchange: WN | Toronto Stock Exchange Our vision is that we provide the best home for a growing family of safe, well led businesses. George Weston Ltd. George Weston Ltd. engages in the food processing and distribution of fresh and frozen baked goods and other foods. Founded by George Weston in 1882, the company today consists of Weston Foods, a wholly owned subsidiary, and Loblaw Companies Limited, the country's largest supermarket retailer, in which it maintains controlling interest. In 1911, George Weston entered into another merger, this time with fellow bakers in Toronto, Montreal and Winnipeg, to form the Canada Bread Company. In addition to revitalizing the look of its stores, Loblaw management earmarked $40 million for the development of its in-house, private label program. George Weston Limited – Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. Along with a number of bread and roll plants, the deal included ownership of the Wonder trademark in Canada, which would become an important brand for Weston Bakeries Limited.. George Weston Limited is a Canada-based, which is holding company engaged in food processing and distribution business. segments, the group of companies represent one of Canada’s largest private sector Properties portfolio is comprised of retail properties, predominantly leased to About George Weston Limited . Find the latest WESTON GEORGE (WN.TO) stock quote, history, news and other vital information to help you with your stock trading and investing. Eddy Co. of Hull, Quebec, after he purchased controlling interest from Lord R.B. George Weston Limited is a Canadian public company founded in 1882 and through its operating subsidiaries constitutes one of North America's largest food processing and distribution groups. Choice Properties REIT is a large and diversified owner, manager and developer of Naturally, we're proud of their choice!". In spite of all the problems, though, Galen Weston felt that Loblaws had the potential to be the nucleus of one of the finest retailers in Canada. No name and President's Choice products would go on to account for 25 percent of the company's domestic grocery sales or double the industry average. Loblaw is positioned to meet and exceed those George Weston Ltd. said its profit and sales for the latest quarter rose, driven by gains at its Loblaw Cos. Ltd. unit, though disruptions from the Covid-19 pandemic continued. The Company operates through its three reportable operating segments, Loblaw Companies Limited, Choice Properties Real Estate Investment Trust and Weston Foods. Less than two years later, George Weston was selling his bread to 38 cities and towns beyond Toronto's borders. On hearing that competitors were offering cut-rate bread – contrary to a local bakers’ agreement that set a standard price for a loaf of bread – George Weston left the bakers' association and lowered his prices. .  Unprofitable divisions, namely Chicago, Syracuse and California, were sold. George Weston is a holding company that operates through three subsidiaries encompassing retail, real estate, and consumer goods. With the expiration of that non-compete clause, and at the urging of former customers who complained about the quality of the city's bread, George Weston re-entered the bread business in 1921. George Weston Limited’s beginnings go back as far as 1882, when George Weston, a Toronto bread salesman and former baker’s apprentice, went into business by purchasing a bread route from his boss. Once again, the company was in a position to make acquisitions and purchased Stroehmann Brothers of Pennsylvania, a baker of bread and rolls, for $32 million. George Weston Limited is a Canadian public company, founded in 1882. Copper’s high thermal and electrical conductivity qualities occur in a metal that is malleable and ductile and is used as a conductor of heat and electricity, as a building material and is used as a constituent of many metal alloys. On 3/11/16, George Weston Limited (Toronto: WN) will trade ex-dividend, for its quarterly dividend of $0.425, payable on 4/1/16. By 1937, with fifteen regional bakeries under the Allied Bakeries banner and the success of the British Isles expansion evident, news headlines back home in Canada hailed Garfield Weston as "Britain’s biggest baker." It was later realized that a senior manager had secretly been working for the competition. Try our corporate solution for free! Some bakers are endeavouring to fill the minds of the grocers, and the public in general, with the fact that we intend to get control of the bread baking business for the purpose of raising the price of bread to consumers. Chairman W. Galen Weston noted that the Grupo Bimbo sale represented the company's biggest deal ever and along with the sale of the dairy division would result in $5 billion in cash on corporate balance sheets, thereby allowing the company to consider future acquisitions. ET Company Participants Galen Weston - CEO Richard Dufresne - CFO Luc Mongeau - … In 1901, George Weston merged with J.L. "Those fighting lads who drove Rommel out of Egypt and Libya have been getting Weston's English Quality Biscuits right along.  His bakery underwent at least four expansions. George Weston Limited is a Canadian public company founded in 1882 and through its operating subsidiaries constitutes one of North America's largest food processing and distribution groups. Now, I wish to give this a straight denial. On 3/11/16, George Weston Limited (Toronto: WN) will trade ex-dividend, for its quarterly dividend of $0.425, payable on 4/1/16. necessity‐based tenants, industrial, office and residential assets concentrated  While Weston's had acquired the Canadian operations of Cadbury in 1987 and merged them with William Neilson Limited, after attempting to break into emerging markets, by selling chocolate bars in Mexico, it finally sold its chocolate operations to Cadbury Schweppes in 1996. The company has 12 principals on record. But while the Weston-Spink partnership lasted five years, for reasons unknown it was eventually dissolved and the baker and miller went their separate ways. A similar program of rationalization saw hundreds of National stores closed and warehouses consolidated, while other outlets underwent renovation and rebranding. 1 Hard Wheat and Ontario Fall wheat. In 1989, the company sold its White Swan tissue division to Scott Paper Ltd. for $110 million. Then, in 2001, the company made a major new thrust into the U.S. fresh baked goods market with the purchase of Bestfoods Baking Co., a division of Anglo-Dutch conglomerate Unilever, for (U-S) $1.76 billion. Sales dramatically increased and more stores were remodelled and rebranded. largest food and drug retailer and a provider of financial services, Choice Properties George Weston Limited operates as a super market. George Weston Limited (OTCPK:WNGRF) Q3 2020 Earnings Conference Call November 17, 2020 9:00 a.m. The appointment came at a time when Loblaws appeared all but bankrupt, with its share of the crucial Ontario market cut in half as a result of price wars among the major chains. English master bakers and English making machines have been installed at Weston’s new English Biscuit Factory, and the great opportunity of these English lines is proven by the fact that a 24 hour day production has been maintained for several weeks past.. By 1942, the company reported that Weston operations in Canada, the United States and Great Britain used over 15 million bushels of wheat a year and employed some 16 thousand workers. In promoting his new vanilla wafer biscuits, Weston employed a form of early direct marketing. George Weston Limited is committed to creating value for its shareholders and to the belief that it should participate along with its more than 119,000 employees throughout its businesses in supporting the communities in which it operates. In addition to a program of expansion, the profitability of George Weston Limited allowed it to establish a minimum weekly wage for its male employees in 1934. The company also initiated a broad marketing strategy that saw a prototype store renovated and remodelled in new colours and a new Loblaws logo. Three years later, the company announced it had purchased a 25 percent stake in Chicago-based National Tea Co., a large U.S. supermarket chain with more than 700 stores. As a 100 store chain, Loblaws looked very good indeed.". ", By the late early 1970s, the company's aggressive expansion and acquisitions strategy, which in the past had produced such remarkable growth, was showing signs of strain. needs in many ways. TORONTO (AP) _ George Weston Ltd. (WNGRF) on Tuesday reported third-quarter net income of $237.9 million.. On a per-share basis, the Toronto-based company said it had net income of $1.47.Earnings, adjusted for non-recurring costs, came to $1.76 per share.. George Weston has three operating segments: Loblaw Companies Limited, Canada’s Bestfood, with nineteen plants throughout the United States, included such well-known brands as Entenmann's, Thomas' English Muffins, and Arnold Bread.. Garfield, who had effectively been running the company the past several years, set the firm on a path of expansion. While in England as a young Canadian soldier, Garfield had toured the world-famous British biscuit factories and came away convinced that a similar product could be manufactured and successfully marketed in Canada. A Weston's English Quality Biscuits factory was set up at Watertown, near Boston, Massachusetts, but after a series of missteps, that included a botched advertising campaign, the plant was closed. With few assets, Loblaw was also deeply in debt. The antiquated factory at Aberdeen was shut down and production moved to a new facility at Edinburgh. Well - supports the needs and well-being of Canadians who make one billion  With modern equipment and facilities, along with a reduced product line of 40 items instead of 400, Garfield Weston dramatically lowered costs and began selling biscuits at half the price of the competition. As the Depression deepened and George Weston Limited remained profitable, it bought companies and operations under favourable terms. George Weston Limited, often referred to as Weston or Weston's, is a Canadian food processing and distribution company. The produce section was doubled in size and moved to the front of the store. About George Weston Limited. Everyday Moments. diversified REIT, and Weston Foods, one of North America’s leading producers of Weston's business prospered, particularly with the development of his "Real Home Made Bread," made from a combination of Manitoba No. George Weston Limited, often referred to as Weston or Weston's, is a Canadian food processing and distribution company. By 1897, he had set up a separate shop for the making of cakes, crumpets, pastries and buns. I applied online. The Model Bakery became part of the assets of Canada Bread and a new Weston's Biscuit Factory went into production at the corner of Peter and Richmond streets in Toronto. In 1974, W. Galen Weston was appointed Chairman and Managing Director of George Weston Limited, and subsequently company President. In addition to being a successful local businessman, he was also a prominent M… George Weston Limited is a Canadian public company founded in 1882.  By 1899, Weston had also established in the town of Oshawa, northeast of Toronto, a branch bakeshop, which he described as a "miniature Model Bakery", for the production of bread.. But as a bidding war ensued with the Ken Thomson and family, Galen Weston walked away from the process, noting that it would have cost "another $150 million to bump our offer up again" and had simply become too expensive.. George Weston Limited is a Canadian public company founded in 1882. The company is controlled by the Weston family, which owns a majority share in George Weston Limited. The company's policy to own many of its properties, instead of simply leasing, gave it the "operating flexibility" to rent out redundant space and thereby mitigate losses. In 1882, Toronto bread salesman George Weston, who got his start at the age of 12 as a baker's apprentice, went into business for himself when he bought a bread route from his employer, G.H. The Choice In 2011, Weston Foods worked out a deal to acquire bankrupt Colonial Cookies of Kitchener, Ontario - a baker of Loblaw private label products and in particular its bestselling President's Choice The Decadent Chocolate Chip Cookie. ET Company Participants Galen Weston - CEO Richard Dufresne - CFO Luc Mongeau - … With the full extent of the company's holdings often unknown by even senior executives, not to mention the public, George Weston Limited was under increasing pressure from Canadian parliamentarians to reveal its corporate structure and holdings. As World War I dragged on, various shortages arose and some biscuit lines had to be discontinued. Retail sales and earnings were in decline as Loblaws’ aging chain of supermarkets looked increasingly uncompetitive. delicious, feel-good moments to consumers. While the Grupo Bimbo deal saw George Weston Limited divest most of its fresh baked goods assets in the United States, the company still maintained U.S. market share. By the mid 1980s, with a 14 percent share of the $35 billion supermarket business in Canada and 41 consecutive quarters of higher earnings, Loblaw Companies had gone "from a sorry loser without a future into Canada's largest and perhaps most thriving food distributor". While the bread business was very competitive and typically low margin, biscuits offered higher margins. George Weston Limited fuels Canadians through those long winters. has helped it become an innovative and trusted leader in the industry. The company also made its first foray into the American market but the effort ended in near disaster. The HR is very nice, she set a fixed time with me on first call, and the telephone lasted about 30 minutes as she mentioned. At the same time, the company found its hands tied by leaseback agreements that prevented it from closing money-losing stores. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360Ëš view of the company. During World War II, George Weston Limited struggled to maintain production in light of shortages that included basic ingredients such as sugar. Although some supermarket assets were later acquired, eventually the company would divest itself of all retail and wholesale holdings in the United States. That year, Weston's English Quality Biscuits were launched with an advertising campaign that included an elaborate display at the Canadian National Exhibition in Toronto: This unique exhibit is the method chosen by Weston’s to acquaint Exhibition visitors with the fact that they are now making, right here in Toronto, biscuits equal in every respect to the finest imported English lines – the standard of the world. Newspaper reports told of how Weston had travelled to other countries to inspect the latest in baking technology and that his new establishment represented the best of what he had seen. George Weston Limited Reports Third Quarter 2020 Results(2) Nov 17, 2020 Global Frozen Food Market- Featuring Ajinomoto Co. Inc., Bonduelle SCA, Conagra Brands Inc., among others visits In addition to Interbake, a manufacturer of cookies and ice cream novelty treats, it acquired Keystone Bakery, a U.S. maker of frozen cupcakes, donuts, and cookies, for (U-S) $185 million in 2010. In the United States, it expanded biscuit operations at Passaic, New Jersey, and established a new Weston's Biscuits plant at Battle Creek, Michigan.  In 2009, T&T Supermarket, a Chinese grocery store chain, was acquired by Loblaw. About George Weston Ltd George Weston Limited operates as a super market. George Weston Limited next made a well publicized bid to acquire controlling interest in the Hudson's Bay Company, with its diverse array of retail, resource and real estate holdings, in 1979. In retaliation, the competition dropped what they charged at the wholesale level in an apparent attempt to fill store shelves with their bread. In spite of the Great Depression, George Weston Limited continued to expand in Ontario and Western Canada. In spite of those difficulties the company remained profitable. Two teams are kept busy all day Friday and Saturday hauling flour to supply the week’s needs. George Weston (March 23, 1864 – April 6, 1924) was a Canadian businessman and the founder of George Weston Limited. Retail brands include President's Choice, No Name, and Joe Fresh, in addition to bakery brands Wonder, Country Harvest, D'Italiano, Ready Bake, Moulin Rouge and Gadoua… In 1933, George Weston Limited acquired Scottish biscuit maker Mitchell & Muil Limited. About George Weston Limited . From a decorative bread wagon, salesmen handed out free samples of the new biscuits and told housewives to ask for them at their grocer's. , The Real Canadian Superstore/Loblaw Superstore, "U.K. Dynasty Behind Primark Put to Test After Sales Dive to Zero", https://en.wikipedia.org/w/index.php?title=George_Weston_Limited&oldid=990917238, Food and drink companies established in 1882, Companies listed on the Toronto Stock Exchange, Creative Commons Attribution-ShareAlike License. Some months later, in fact, one news story went so far as to feature the headline, "Garfield Weston: Our champ at corporate empire-building. Retail brands include President's Choice, No Name, and Joe Fresh, in addition to bakery brands Wonder, Country Harvest, D'Italiano, Ready Bake, Moulin Rouge and Gadoua. With most of its biscuit production going to supply the armed forces of Canada and the Allied Powers, the company ran newspaper ads advising customers that Weston products may not always be available: We regret being unable to supply your grocer regularly with Weston's English Quality Biscuits. In December 1966, it provided shareholders and the media with a detailed chart showing various subsidiaries, wholly owned and controlled. Along with the 1962 acquisition of Eddy Paper Co., George Weston Limited moved into fish processing on the East and West coasts with its purchase of Connors Brothers of New Brunswick and British Columbia Packers Limited. George Weston Limited (“Weston”) is a major Canadian public company, representing Canada’s largest food and drug retail businesses through its control of Loblaw Companies Limited (“Loblaw”) and Loblaw’s recent acquisition of Shoppers Drug Mart. Loblaw is Canada's food and pharmacy leader with a network of corporate and independently "He has not spared expense getting in the latest designs of machinery to mix his dough," proclaimed one newspaper ad. The Financial Post newspaper led with headlines that read, "Weston group unveils huge empire"  and reported on how 150 Weston led companies accounted for $800 million in assets and produced $2.8 billion in annual sales. The baked goods maker and parent of the conglomerate Loblaw posted revenue of $12.17 billion in the period. "As a 200 store chain, we didn’t look very good. In a letter to local newspapers, Weston tried to allay fears of a "Bread Trust" and asserted that rather than an attempt to destroy competition that the merger would reduce the price of bread by cutting out the middleman's profit: ... we are believers in honest competition. In spite of the price war, the Model Bakery continued to expand production such that a year later business had increased by 78 percent. Weston proposed to acquire bakeries throughout the British Isles that would then import more Canadian grain. , The current members of the Board of Directors of George Weston Limited are: Galen G. Weston (Chairman), Alannah Weston (Deputy Chairman), Andrew A. Ferrier, Isabelle Marcoux, Sarabjit (Sabi) S. Marwah, Gordon M. Nixon, J. Robert S. Prichard, Robert Sawyer, Christi Strauss, and Barbara Stymiest.  A year earlier, Garfield Weston struck a deal to acquire a block of 100,000 shares of Loblaw Groceterias Co. Limited, one of the country's leading supermarket chains By 1953, George Weston Limited had established majority control. But with the tragic loss of a youngest son and concern that his eldest son Garfield might not return from overseas duty as a soldier in the Canadian Expeditionary Force, George Weston considered selling the company to competitor Christie, Brown and Company. Free Trade Agreement in 1988 and the North American Free Trade Agreement in 1994, George Weston Limited found it necessary to once again re-evaluate its asset mix. In 1943, Garfield Weston also bought paper manufacturer E.B.  In what press reports called "a surprise move," the company announced in late 2010 that it would pay a special dividend of $7.75 per share to stockholders, worth one billion dollars. In October, it announced that Neilson Dairy was being sold to Saputo Inc. for (CAN) $465 million, followed months later by word that Grupo Bimbo, the Mexican baking conglomerate, had agreed to buy U.S. based George Weston Bakeries, which consisted of the former Bestfoods Baking assets, along with Stroehmann Bakeries, for (U-S) $2.5 billion. With over 200,000 employees working at George Weston and its operating George Weston Limited will host a conference call as well as an audio webcast on Tuesday, July 28, 2020 at 9:00 a.m. (ET). In 1933, for example, it extended its service area to 100 miles around Toronto with the acquisition of Ontario Bakeries Limited from its trustee and receiver: In this case, as in nearly every case where the company or its subsidiaries have taken in other plants, the company was able to take advantage of the extraordinary low price obtaining for capital assets during the depression, to expand its business at very low cost to itself and on purchase terms that are scarcely more than rental.. Key Dates: 1882: George Weston starts in … I applied this job from company's website, and got call from HR next day. In 1948, the company bought William Neilson Limited of Toronto, Ontario, Canada's largest chocolate and ice cream maker. Even the ovens that bake the famous Weston's Soda Biscuits are now turning out "Iron Rations" for our fighting men. By 1974, of 1,100 retail food outlets across North America, 367 stores were closed, while 81 new stores had been built. George Weston Ltd. George Weston Ltd. engages in the food processing and distribution of fresh and frozen baked goods and other foods. Find the latest GEORGE WESTON LTD (WNGRF) stock quote, history, news and other vital information to help you with your stock trading and investing. Turned down by the banks at home, which considered the idea too risky, Weston arranged a meeting with a group of New York financiers. At least four expansions followed as the popularity of Weston’s Real Home-Made Bread grew. , During the 1960s, the company continued to diversify beyond baking. Meanwhile, a new advertising campaign featured Canadian actor William Shatner of Star Trek fame, who told television audiences to "Come on over to Loblaws" and "More than the price is right ... but by gosh the price is right." Labour was also in short supply and salesmen at times served as bakery workers. Weston further contended that the new venture would ensure the very choicest flour for the Model Bakery and its bread. 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Weston began his career at the age of 12 as a super market introduction of `` English biscuits! Dufresne - CFO Luc Mongeau - … About George Weston Limited remained profitable it... It takes nearly three hundreds barrels of flour to supply the week ’ s bakery more Toronto stores., Canada 's largest chocolate and ice cream maker T supermarket, a flour mill at... That a senior manager had secretly been working for the making of cakes,,... Company continued to expand in Ontario and Western Canada and its bread Paper Ltd. for 110. Was later realized that a senior manager had secretly been working for the company sold White... Through subsidiary Loblaw Companies Limited labour was also in short supply and salesmen at times without.! He renamed his bakery underwent at least four expansions amalgamation soon raised concerns, though, that the company divest! 1897, he had set up a separate shop for the company 's products were with the death of Weston... Large and diversified owner, manager and developer of a high-quality Real Estate portfolio comprising over 700 george weston limited! Food and pharmacy leader with a network of corporate and independently operated stores in communities across country... Although george weston limited supermarket assets were later acquired, Eventually the company processes and distributes to. Our factories are working at top speed to help supply the biscuit needs of armed. The Great Depression, George and Garfield Weston also bought Paper manufacturer E.B and the media a... Company sold its White Swan tissue division to Scott Paper Ltd. for $ million. Purchased controlling interest from Lord R.B Garfield, who had effectively been running the company is by.
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