Italian dairy products giant Parmalat has announced the disposal of one of its Brazilian plants.
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The plant, based in Manhuacu (Minas Gerais) has been sold to local competitor Alimentos Rio Grande. The price of the deal was not disclosed, but it has been estimated at approximately R$2.4m (US$766,500).
The plant has been sold with all equipment, so it is assumed its new owner will continue to use it to produce dairy products.
Parmalat explained the deal was part of company restructuring aimed at improving efficiency and competitiveness. The output lost be the sale of the plant will be made up by the company’s other units in Brazil.
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By GlobalData
