FRANCE: Poultry group LDC in investment drive
French poultry group LDC is investing EUR49m (US$63.47m) in production plant modernisation at its units in western France, the development of its delicatessen division and international activities.
EUR31m has been earmarked for the upgrading of production facilities at three poultry processing plants, including the one at LDC's HQ in Sablé-sur-Sarthe.
Around EUR15m has been earmarked for the group's growing delicatessen division whose range of products includes sandwiches, pancakes, pizzas and other prepared dishes.
EUR3m will be invested by LDC's on its activities outside France, including its new abattoir and cutting facility at Avila, in Spain.
LDC said that an improvement in its results in the third-quarter of its current financial year limited the nine-month decline in turnover to 1.7%, confirmation that the sector was now on the road to recovery after the blow dealt by the bird flu scare early-2006.
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