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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.

UK beef genetics firm buys Canadian business

UK-based Cogent Breeding, which supplies beef and dairy genetics to more than 40 countries worldwide, has acquired Foundation Genetics, the specialist Canadian bovine genetics business.

Serbian meat investment gets Chinese group's support

Serbian meat processor Neoplanta and Chinese group China Machinery Engineering Corporation (CMEC) have unveiled plans to invest in Serbia’s meat industry.

Atria pumps cash into chicken plant

Atria Finland has announced it is to increase efficiency of chicken production at its Sahalahti plant in Kangasala. 

News in brief

Go-ahead for South African merger

The competition commission in South Africa has given the green light to a proposed merger between Rhodes Food Group and Deemster.

News in brief

Australian meat firm signs plant deal with Thai processor

Adelaide-based meat manufacturer Thomas Foods has signed an agreement with Thai processor Charoen Pokphand Group that is expected to result in the construction of a new processing plant in South...

Bird flu takes its toll on US poultry processor

Sales and profits at poultry processing company Sanderson Farms in the US have been hit, as the aftershocks of the bird flu outbreak continue to be felt. 

Romanian meat firms eye €25m to expand output capacity

Romania-based companies Agricover and Degaro have unveiled investments totalling €25m with the aim of acquiring new facilities and expanding their existing capacities.

US beef import industry aided by the US dollar

The strong US dollar is contributing to a growth in the country’s imports of beef and a slowdown in its beef export business, according to the US Department of Agriculture...

Romania sees processed meat sales rise after VAT cut

Following a decision made by the Romanian government to reduce the VAT on meat and processed meat products from the rate of 24% to 9% this year, the country’s retail...

Avian flu costs US poultry and egg industry $390m

The avian flu virus has cost the US egg and poultry industry nearly $390 million because of a 14% drop in exports during the first half of 2015 compared to 2014.

Strong second quarter for Marfrig Global Foods

Brazil’s Marfrig Global Foods, one of the world’s largest beef, lamb, poultry and fish-based food companies, has seen a strong second quarter in 2015, with a free cash flow of...

Nomad to buy Findus for £500m

International frozen foods company Nomad Foods has agreed to buy the European arm of Findus for approximately £500m. 

Meat-based snacks experience global growth

The meat snack market has benefited from a rapidly growing interest in protein content, according to Netherlands-based research firm Innova Market Insights. 

Italian firm invests in Hungarian meat plant

Italian-owned pork and poultry meat processor Kometa 99 ZRt. has completed an investment estimated to be worth some 700m Hungarian Forint (HUF) (€2.3m) at its facility in Kaposvár, in Hungary’s...

Slovakia to cut VAT on fresh meat to 10%

Slovak prime minister Robert Fico has unveiled plans to reduce the value-added tax (VAT) on fresh meat from the current rate of 20% to 10%. 

HKScan reveals plans for new poultry plant

HKScan, the European meat producer and processor, is planning to construct a new production unit in western Finland, set to open in 2017.

Jerky and biltong companies merge to create Meatsnacks Group

The Jerky Group has merged with biltong brand Cruga to form the largest ambient beef snack manufacturer in Europe.

Export disruption shrinks Tyson Foods’ profits

Tyson Foods, the largest US meat processor, has cut its profit forecast for the year, citing issues in the beef market. 

News in brief

Slovenian poultry firm gets €40m worth of investment

Slovenian poultry firm Perutnina Ptuj has received €40m worth of investment from the Slovenian Steel Group (SIJ) as part of its long-term plan to break into the food industry. 

Maple Leaf Foods’ sales fall over quarter

Maple Leaf Foods, the Canadian meat processor, has reported a drop in sales from last year of 1.3% to $820.8 million for its second financial quarter to 30 June, 2015.

Russia’s Cherkizovo reports pork sales hit by African Swine Fever

The largest integrated meat processor in Russia, Cherkizovo, has reported increased sales in its poultry and meat processing division in the first half of 2014, but a decline in sales...

ABP's Irish plant creates 152 jobs

The opening of the upgraded €50 million food processing facility for ABP Food Group in Cahir, Tipperary, Ireland, should generate more than €1 billion to the Irish economy over five years.

Collagen deal boosts sausage casings firm's EU strength

Sausage casings firm Devro's acquisition of 100% of the shares of the Dutch collagen manufacturer PV Industries (PVI) will boost its “presence and authority” in Europe, a top UK food industry analyst...

US state beef bodies gain funding

Seven state beef organisations across the US have been awarded grants to help promote beef to consumers.

News in brief

Australian cattle firm steps back from acquisition

The Australian Agricultural Company (AAco) has revealed it will not be bidding for the S. Kidman and Co portfolio.

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