SWEDEN: Swedish Meats losses deepen
Beleaguered leading Swedish abattoir and meat group Swedish Meats said its eight-month loss to August widened to SKr175m compared with a loss of SKr100m in the same period of last year.At the same time the board announced a major management and structural overhaul in a move to stem losses due to internal inefficiencies. The group is the result of a merger of four regional cooperative abattoirs and differences among them have been difficult to overcome. Swedish Meats officically started operations as of Janury of last year. For the full year, the group now is expected to post losses of SKr300m, far below previous forecasts of break-even.
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