Italian dairy group Parmalat has announced its gross operating
profit for the first four months of the year has steadied, as a
government-appointed administrator prepares to meet creditors next
week in an attempt to ward off liquidation.
Parmalat, the financially ruined dairy group, may be forced to hang
on to its US subsidiaries if it does not receive a suitable bid for
its operations. It was reported today that the company is
considering a "stand alone"...
Northern Foods, the UK convenience food group, has announced today
its plans to sell its dairy division to compatriot Uniq. The
Minsterley fresh dairy products business has struggled financially
in past years, especially after the...
Ongoing growth in cultures sales to the dairy industry and health
markets helped the Danish ingredients firm Chr Hansen post a modest
rise in revenue for the food ingredients division in the first six
months. Organic growth for the...
Parmalat Hungaria, the Hungarian arm of the disgraced Italian dairy
group, will receive a HF500m loan from the Hungarian government to
help the plant reach a higher level of output and, in turn, clear
its debts. The site is currently...
Dairygold, the troubled UK co-op, plans to make major cut backs in
its core dairy division which will result in an estimated 300 job
losses. The group said that restructuring an is essential move if
it is to avoid making losses in...
Nestlé, the world's largest food group, has reported underlying
growth of 5.1 per cent for the first quarter of 2004, helped by a
strong performance from its added value dairy business, where sales
were some 7.6 per cent ahead....
Dairy giant Danone posted a sharp increase in like-for-like
revenues for the first quarter of 2004, boosted in particular by
strong sales of 'healthy' dairy products such as its probiotic
range. Like all European dairy companies...
Campina, the international dairy company, is to acquire the Thai
dairy activities of disgraced Italian group Parmalat. Campina said
that the move was in line with its strategy to exploit the Asian
dairy market, and the fallen giant's...
Parmalat, the financially-hit dairy group, has resumed control of
its Brazilain unit this week. Last month the group announced that
it is to sell around half of its assets as part of its
restructuring programme, however, it is unclear...
In a trading statement released today, Dairy Crest said that its
cheese business was performing bellow its expectations. The
European cheese market has suffered as a result of the midterm CAP
review this year, and the company claims...
Almost half of Parmalat's assets across the globe will be slashed
in an effort to swap debt for equity. The company which is one of
Italy's most global companies announced on Friday its restructuring
plan designed to keep...
Friesland Coberco, the multinational dairy group, saw profits and
sales depressed last year by sliding European cheese prices
exacerbated by the current review of EU subsidies to the
agricultural sector, writes Danny Vincent.