MHP interested in acquisition of French poultry producer Doux
Myronivsky Hliboproduct (MHP) could acquire the French poultry producer Doux Group, the French edition Challenge's has reported.
According to the publication, the holding on March 9, 2018 filed documents to the industry restructuring committee of France (Comité Interministériel de Restructuration Industrielle) for the restoration of Doux Group suffering economic difficulties.
The committee does not make any decisions. At the same time, it contributes to the development of the best plan for the rehabilitation of enterprises, as well as search for buyers.
According to the edition, MHP estimates the amount of required investments to restore the group at EUR150 million, while requiring that at least EUR70 million be compensated at the expense of state subsidies.
In addition, the MHP plan offers the reduction of up to 550 jobs.
According to the website of Doux, the group's enterprises employ more than 2,300 people. At the same time, it says at present the number of workers is about 1,200.
MHP has not confirmed the relevant information so far.
According to the website of Doux Group, the economic difficulties of the group worsened in 2016. The main factor was the substantial dumping of chicken prices (by 30% per year) on the part of Brazilian producers in the market of Saudi Arabia, which is the main one for Doux.
Doux Group, founded in 1955, is one of the leading European manufacturers of poultry products.