Norway’s biggest meat and egg company Nortura is to axe up to 850 jobs after booking unsatisfactory 2007 results.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“We have free slaughtering and processing capacity and our plants and machinery need maintenance and new investment. We have to conclude that we can no longer maintain 41 factories,” said chairman Geir Olav Opheim.
He added: “Investigations are under way and as many as 850 employees could be affected.”
Nortura published a map of Norway with 13 plants labelled as being “under investigation” for possible closure.
Nortura, which owns the Gilde and Prior meat and eggs brands, posted 2007 pre-tax profit of NOK126m (US$23.6m), sharply down on NOK244m a year earlier.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataTurnover jumped NOK788m to NOK15.8bn but Nortura was hit by higher wage, transport and raw material costs.
Nortura, which launched 88 products last year, is a cooperative owned by 30,300 farmers, with 6,800 employees. The company produces over 200,000 tonnes of meat and 30,000 tons of eggs annually.
