Parmalat has stepped up legal proceedings against banks alleged to
have failed to prevent its 2003 financial collapse as it continues
its drive to re-establish itself as a leading global dairy company.
Japanese brewer Kirin yesterday announced that it had opened
"preliminary discussions" with rival San Miguel over the
possibility of acquiring a stake in its Australian dairy and soft
drink subsidiary National foods.
Growing fears among dairy processors over continued increases in
the cost of ingredients like milk powders could be allayed by new
findings from the Organisation for Economic Co-operation and
Raisio is to cease production of margarine at its plant in Istra,
Russia from September, when it will transfer the operation to a
subcontractor in an effort to reduce over-capacity and boost
The EU's dairy management committee last week revoked
subsidies on all exported dairy products for the first time in 40
years, as increased demand amongst processors and consumers
continues to drive up prices.