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Financial

Money makes the world go round and the meat industry is no different. Deals are always being brokered and currency fluctuations are a key issue for any global meat trader.

Zambeef expecting higher profits following sales spike

Africa’s Zambeef expects full-year profits to be “materially higher” than previous estimates after beef, pork, dairy and feed operations enjoyed a spike in volume growth.

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Tyson Foods investment creates 350 US jobs

Tyson Foods will invest $27m to expand production output at its beef and pork processing plant in Iowa, US, leading to the creation of 350 jobs.

Ireland: Origin Enterprises profits fall 26%

A solid performance in Eastern Europe was not enough to halt a 25.7% drop in pre-tax profits for Ireland’s agri-service group Origin Enterprises.

Food trends: Why beef and pork is about to get cheaper

Beef and pork prices in the US are expected to drop by more than 10% in the next nine years, according to US government meat projections.

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Canada’s Olymel investment creates 30 jobs

Pork processor Olymel will pump millions of dollars into its Quebec factory to improve production and efficiency, leading to the creation of more than 30 jobs.

PKM Duda eyes two Polish meat players

Polish meat processor PKM Duda plans to take over two local meat players, Bekpol and Meat-Pac, with a view to growing its exports.

China’s stake in Silver Fern Farms approved

The New Zealand government has given the go-ahead for Chinese food operator Shanghai Maling to buy a 50% stake in meat processor Silver Fern Farms for $261 million.

Wellard’s Chinese shareholders boosted by refinancing deal

Animal exporter Wellard is set to receive a multi-million-dollar payment from its largest shareholder, WGH Holdings, as part of a refinancing move set to benefit its Chinese backers.

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De Winter Natuurdarmen to become part of Van Hessen Group

Belgian casing company De Winter Natuurdarmen is to be incorporated into the Dutch Van Hessen Group. 

Astral Foods warns of profit collapse

Astral Foods has warned shareholders it expects a dramatic loss in end-of-year earnings as South Africa’s beleaguered poultry sector goes from crunch to crisis.

Hilton Foods profit growth reinforces global expansion

Meat packer Hilton Foods’ quarter rise in pre-tax profits, posted in its interim trading report for the 28 weeks to 17 July, will underpin further international expansion.

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Atria cleared for Kaivon Liha takeover

Finland’s meat processor Atria has won approval to acquire a ruling share in beef processor and wholesale firm Kaivon Liha by competition authorities.

Tyson Foods ‘confident’ of market growth

Top brass at US meat processor Tyson Foods have told investors at the Barclays Global Consumer Stables Conference the business is braced for a wave of growth in 2017.

Packaging firm’s investment creates 25 jobs

German food packaging firm Sonoco Europe has invested €8m to expand its injection moulding plants in Zwenkau, leading to the creation of 25 jobs.

Meat & Livestock Australia pumps cash into feed

Meat & Livestock Australia (MLA), the country’s red meat levy board, will invest $12.7m to bolster the competitiveness of feedlot operators via an innovation and marketing push.

Crisis point for South African poultry industry

The South African poultry sector is in crisis, according to RCL Foods which has posted extensive losses for its poultry division over the past 12 months. 

Czech meat processors invest to expand output capacities

With the aim of raising their meat processing and packaging capacities, two Czech meat processors have unveiled investments of a total of CZK90 million (€3.4 million). 

Copa-Cogeca admits EU pork market is ‘fragile’

EU farming body Copa-Cogeca has warned that pork and beef markets in Europe are struggling a week after the European Commission delivered a £500 million aid package to farmers. 

Latvian poultry processor eyes €2.5m investment

Latvian poultry processor Kekava Poultry Farm plans to invest €2.5m to modernise its poultry breeding facility and raise export sales, according to chief executive Anris Pranckevicius.

Profits triple at leading Chinese poultry firm

One of China’s leading poultry firms is reporting a bumper first half for 2016 thanks to domestic and export demand for its cooked poultry products. 

Hungarian poultry sales to rise due to VAT cut

Hungary’s poultry sales could increase by up to 5% next year due to the government’s decision to cut the value-added tax (VAT) on chicken, according to senior industry representatives.

Half-year profits slashed at Ukraine’s MHP

MHP, the largest agro-industrial firm in Ukraine, saw its pre-tax profits drop by nearly 20% in the first half of the year, according to the company’s unaudited half-year financial results.

Wellard expects profits, despite ‘complex’ position

Australia’s largest livestock shipping business, Wellard, expects its full-year profits to be in line with company estimates, despite a double ship breakdown which cost the business AU$7.7 million in repair...

Premium Brands to buy Fletcher’s for $5m

Canadian food manufacturer Premium Brands Holdings Corporation is to acquire a range of assets from high-end bacon-and-sausage producer Fletcher’s Fine Foods, in a deal worth $5m.

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Moy Park posts ‘solid’ revenue growth

European poultry processor Moy Park has seen a rise in revenue across mainland Europe, according to second-quarter trading figures up to 2 July.

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