ITALY: Yomo yoghurt giant spins off logistics operations, seeks distribution partner
Yomo, Italy's main yoghurt company (2001 sales forecast at Lit600bn (US$280.3m)), is spinning off its elaborate logistics operations and searching a European distribution partner.
Yomo -- also active in milk, cheese, sauces, vegetables, salami and pasta -- said the new company to handle logistics will also be quoted on the Stock Exchange. The group hopes to find a major European or Italian outfit with extensive operations in hauling fresh products.
The idea behind the spin-off is for Yomo to concentrate on production and boost sales, which had been stuck in the region of Lit500bn a year, with a loss in 2000. The projected increase in sales in 2001 is expected to enable Yomo to break even for the year.
By Hilmi Toros, just-food.com correspondent
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