SUBSCRIBE

Breaking News on Global Meat Trading and Processing

Headlines > Financial

Meat exit costs glanbia

Exceptional charges and the loss of business related to the exit from the prepared meat market took their toll on Irish food group Glanbia in the first half.

Dumeco profits down

Dutch meat processor Dumeco (Dutch United Meat Company) has reported a loss of €6.9 million in 2002. This compares unfavourably to figures posted a year...

Campofrio counts cost of changes

A one-off gain in 2002 relating to accounting changes has pushed down profits at Spanish meat group Campofrio in the first half of 2003. But disposals and exchange rate worries...

Smithfield results provide positive outlook

Smithfield Foods, one of the world's largest pork producers, has reported quarterly earnings nearly doubled from a year ago, helped by higher hog prices and strong beef results.

Cargill reports strong results

Strong results across a range of business units helped US agribusiness Cargill post a stable set of figures for the fourth quarter of 2003.

Smithfield makes acquisition

US giant Smithfield Foods is set to acquire a 90 per cent interest in Cumberland Gap.

Tyson makes further acquisition

US meat processing giant Tyson Foods is to acquire Mississippi-based processing company Choctaw Maid Farms.

Poor poultry profits hit Tyson

Plant closures, higher grain costs and the ongoing rationalisation of its business interests have resulted in a decline in quarterly earnings of 26 per cent for Tyson Foods.

Cranswick integrating well

Cranswick, the pig feed to prepared sandwiches group, had a tough first quarter, with turnover boosted mainly by inter-division sales.

Rhodia reacts to market conditions

Tough new legislation in Europe over genetically modified organisms (GMOs) has led to new openings in the marketplace.

Smithfield Foods buys pork assets

US pork processor Smithfield Foods has agreed to acquire the pork manufacturing and processing assets of bankrupt Farmland Industries for $363.5 million (€326m).

Investment pays off for Fleury Michon

Two new adverts for the group's delicatessen and packaged meat and ready meals units helped France's Fleury Michon to an 11 per cent increase in sales in the first half of 2003.

Atria begins Baltic expansion

Finnish group Atria is to become the first western company in the Lithuanian meat products market with the acquisition of a stake in local producer Saltuva.

Nutreco goes Dutch

Nutreco has acquired the remaining 37.7 per cent share in Dutch-based Hendrix Meat Group from Smits Holding and Jabova Beheer.

Northern acquires supplier

Northern Foods will gain entry to some of the fastest growing chilled ready meal markets in the UK with the acquisition of Solway Foods, a major supplier of the Tesco...

Good news and bad for Glanbia employees

Glanbia Meats Ireland has announced that it is to spend €27 million expanding its two production facilities in Edenderry, county Offaly and Roscrea, county Tipperary.

Meaty investment in Russia

Russian-based meat processor EkoNord has opened a $10 million (€8.7m) meat-packing plant in Vsevolozhsk, Leningrad Oblast, Russia.

Belgians eye French market

Ter Beke, the Belgian ready meals and processed meat producer, has signed a letter of intent to buy the ready meals arm of French group Agis for an undisclosed sum.

ConAgra sells chicken processing business

ConAgra Foods, one of America's largest packaged food companies, has announced the sale of its chicken business to Pilgrim's Pride Corporation.

Processing profits

Smithfield Foods, the world's largest pork processor, has announced fourth quarter sales of $1.9 billion (€1.6bn).

Tyson completes plant expansion

Tyson Foods, America's largest provider of chicken, beef and pork, announced this week the completion of its newly expanded and upgraded laboratory in Arkansas, just south of company's world headquarters.

Nutreco and Genex merge breeding operations

International food company Nutreco and Canada-based Genex Swine Group signed a Memorandum of Understanding today. This concludes the merger between Nutreco's swine genetics company, Hypor, and Genex.

ISP taps South American market

International Specialty Products (ISP) continues to consolidate its position on the ingredients market with the news this week that it has acquired Brazilian ingredient systems company Germinal.

Dakota Beef and COLA to supply EU organic market

Meat processor Dakota Beef has signed an agreement with the Canadian Organic Livestock Association (COLA) to provide certified organic beef to the European Union.

Gelita to rebrand its national divisions

All national divisions of the gelatine manufacturing group Gelita will operate under the same name from 1 June 2003.