The Argentine unit of Swiss food giant Nestlé has confirmed it is not interested in making an offer for the local operations of troubled Italian dairy group Parmalat.

“It’s not of interest to us,” Nestlé Argentina president Pablo Devoto told Dow Jones Newswires. 

Nestlé’s CEO Peter Brabeck has already said the company is not interested in scooping up parts of Parmalat, but Argentine media have named Nestlé as one of a small number of companies interested in bidding for the local Parmalat operations.

Separately, Devoto said his company has contingency plans in place to withstand a developing energy crisis in Argentina that could lead to major power shortages.

“All our plants have contingency plans in place. We have made sure that each plant has two forms of energy source available,” he was quoted by Dow Jones as saying.