Stork looks to sell off food division
Stork is looking to sell of parts of the company, including its food processing division.
The proposed sell off, if it occurs, would mean the transfer of all contracts
currently held by processors to the new owners. Stork’s food systems division currently accounts for 16% of the company’s net turnover.
The division had a net turnover of £157 million in the first half of this year, compared to £110.9 million during the same period in 2005.
Operating income was £13.9m, compared to £11.3m over the same period.
However, the company is continuing to invest in marketing its extrusion
machines and in line batch marinating system for chicken and meat products.
The company has made additional investments in Stork’s food and dairy
systems to increase the product portfolio.
Earlier this year Stork acquired Townsend, a meat processing equipment maker in the US, as part of its growth strategy and Nijal Technologie, Alimentaire, a processing machine maker in France.
The acquisitions mark a bid to become a bigger player in the meat processing industry.
