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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.

Atria pumps millions into Lagerbergs brand

Finnish meat processor Atria plans to invest significantly in Lagerbergs to boost production and implement sweeping improvements to the company it acquired in April.

Danish Crown welcomes SPF-Danmark takeover

Danish Crown has welcomed the strengthening of its distribution system through the acquisition of livestock transporter SPF-Danmark, after it bought out pork producer Tican’s 10% stake.

Meat firm fined €16,000 for fake beef labelling

Ireland's Keelaghan Wholesale Meats has been fined €16,000 for falsely declaring beef imported from Poland, Lithuania and Germany was of Irish origin. 

Profits ‘lower than anticipated’ for livestock shipper Wellard

Wellard Ltd, one Australia’s foremost livestock transporters, is braced for a drop in earnings, with the high price of cattle expected to dent full-year trading figures.

Pakistan cuts duty for meat industry equipment

The Pakistan government has reduced custom duty on machinery imports used in the livestock and meat industry from 5% to 2% to encourage investment in the meat industry.

News in brief

Atria to buy majority stake in Kaivon Liha

Finnish meat processor Atria eyes further expansion in its native land with plans to acquire a majority holding in the kebab and burger manufacturer Kaivon Liha.

Danish Crown cleared for SPF takeover

Danish Crown is free to complete the takeover of SPF-Danmark after the European Commission ruled the acquisition does not break competition rules.

Europe pushes for action on unfair trading practices

EU rules preventing producers' exploitation by retailers and wholesalers must be introduced, a European Parliament resolution has urged.

Huge profit growth for Zambeef

Aggressive expansion across West Africa has resulted in soaring profit growth for Zambeef, but extremely strong foreign exchange headwinds have troubled analysts.

Pilgrim’s Pride investment creates 155 jobs

Pilgrim’s Pride has announced plans for a multimillion dollar expansion of its poultry processing facility in Kentucky, leading to 155 new jobs.

Russia’s meat giants see profits plummet

Two of Russia’s largest meat companies experienced a sharp drop in profits in the first quarter of 2016, according to official reports. 

Argentina president talks to meat firm to boost economic growth

Argentina’s reform-minded president Mauricio Macri met with executives of BRF this week, as the meat processor eyes up a mouth-watering investment in South America’s third-largest economy.

Danish Crown ‘under pressure’ as profits fall

Danish Crown’s profits declined in the first six months of the 2015-16 financial year due to an “extremely competitive” retail market. 

Bosch boosted by double-digit growth

Bosch Packaging Technology has hailed “remarkable” sales growth in a stagnant North American market, where trade increased by nearly a fifth in full-year results for 2015.

MHP exports rise despite ‘low’ poultry prices

Chicken meat exports climbed at MHP in the first quarter of 2016, despite the Ukraine-based agro-industrial grain and poultry producer reporting plummeting pre-tax profits during the period.

JBS announces restructure plans

Brazilian beef processor JBS SA has announced a restructure of its business that would see the formation of new company JBS International. 

Rising demand helps Tyson grow income in second quarter

Tyson Foods has posted successful second-quarter results, citing product differentiation as the reason behind its growth. 

Admix extends reach with acquisition of In-Mix Flow

Mixing equipment manufacturer Admix has completed the takeover of its long-standing Danish partner In-Mix Flow for an undisclosed fee.

HKScan admits ‘unsatisfactory’ performance

Finnish meat processor HKScan has posted a drop in operating income for the first quarter of 2016 as price competition, coupled with a pork surplus in Scandinavia, caused a dip...

Atria sells pig farm in Estonia

Finnish meat processor Atria has sold a facility in need of modernisation to pork farmers in Estonia for an undisclosed fee.

BRF profits drop after ‘challenging’ period

Brazilian meat processor BRF has reported a slide in gross profits for the first quarter of 2016 as pressure on poultry prices and the cost of corn hurt its income.

Silverfleet Capital agrees to sell Kalle Group

Private equity firm Silverfleet Capital has agreed to the sale of casings supplier Kalle Group to a fund managed by Clayton, Dubilier & Rice (CD&R)

Pilgrim’s Pride reports pre-tax profit drop

Mexico’s second-largest poultry producer – US-owned Pilgrim’s Pride – has reported a fall in pre-tax profits for the first quarter of 2016 after a “challenging” winter.

Russian drama for Parma as ham sales fall

Full-year trading figures for Parma Ham show strong export growth for the dry-cured charcuterie favourite. But, predictably, sales in Russia have dropped as the Kremlin embargo heaped pressure on the...

BRF strengthens Oman operation with AFK stake

Brazil’s BRF, one of the world’s largest meat processors, has entered into negotiations with frozen food distributor Al Khan Foodstuff (AFK) to acquire full control of the Omani business....

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