PHILIPPINES: RFM board approves Swift Foods acquisition
The board of Philippines food and drinks manufacturer RFM has approved the acquisition of the meat processing business of its Swift Foods unit.
The acquisition deal, which still requires the approval of Swift's board, will cover all assets of the meat processing business except the factory and land which is situated just south of Manila.
The acquisition is thought to be part of RFM's plan to consolidate all branded food products under one division, reported Dow Jones Asian Equities Report.
Last month a customer at an outlet of US fastfood chain Wendy's claimed to have found a severed finger in her food. The news spread like wildfire, fuelled by intense media interest, and Wendy's sales ...
Beef and pork producer Swift & Company executive vice president and CFO Danny Herron will leave the company when his contract finishes on 19 September 2006....
Approximately 300 Swift & Co meatpacking workers will lose their jobs because the Japanese ban on beef imports has driven down price margins and forced an industry downturn, the company said....
Pork and beef processor Swift & Co has reported a drop in second-quarter EBITDA (earnings before interest, tax, depreciation and amortisation) from US$44m to $2m, on sales 6% lower at $2.33bn....
Argentina's beef exporters are up in arms against the government's decision to raise export taxes to 15% from 5% and the specter of a further hike to 25%....
Beef and pork processor Swift and Company has announced that executive vice president and chief financial officer Danny C Herron has decided to leave the company by 19 September 2006, the end of his c...
UK supermarket group Asda has said that its first four stores in Northern Ireland have beaten weekly sales targets....
US meat processor Swift & Company has reported net sales of US$2.4bn for its fiscal first quarter ended 28 August 2005, down 4% from the previous year's first quarter....
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