NETHERLANDS: FrieslandCampina restructures credit
FrieslandCampina has amended its credit facilities and appointed a new exec
Dutch dairy company Royal FrieslandCampina has amended its EUR1bn (US$1bn) revolving credit facility.
After talks with its banks, the company has reduced interest and extended the term to August 2015.
CFO Kees Gielen said: "In spite of the current tough situation in the financial world, we have once again succeeded in improving our loan conditions. We are able to do this because of our healthy financial position and good performance. Amending the conditions of the revolving credit facility will generate an annual saving of several million euros."
FrieslandCampina also announced that Tex Gunning has been appointed as a member of supervisory board.
Gunning sits on the executive committee of AkzoNobel and is also a member of the supervisory board of TNT Express. He previously held various management roles at Unilever.
Unilever is to build its second ice cream factory in Turkey as it looks to further tap into increasing consumption in the country....
The UK dairy sector was in the spotlight this week, with the proposed merger between Arla Foods and local co-op Milk Link and the annual loss reported by Dairy Crest. just-food interviewed senior exec...
- Mondelez results and outlook - 7 things to learn
- Comment: Hain Celestial cognisant of US challenges
- What should you learn from 2015 olive oil prices?
- Why Lactalis swooped for Romanian dairy Albalact
- just-food's three top tips for M&A deals in 2016
- Mondelez continues to see margins up, sales mixed
- Hain Celestial lifted by international, protein
- China eyes further infant formula restrictions
- Unilever launches eggless Hellmann's mayo in US
- Unilever launches dairy-free Ben & Jerry's in US