Farmers have pulled the plug on Glanbia Plc's plans to sell
its Irish dairy business and focus on nutrition and the US cheese market.
Glanbia had agreed in April to sell
its Irish dairy business to its majority shareholder Glanbia Co-operative Society for about $ 343m but the proposals narrowly failed to garner enough support from the membership.
Glanbia had agreed in April to sell
its Irish dairy business to its majority shareholder Glanbia Co-operative Society for about $ 343m.
The benefits of a disposal of
the Irish dairy business could be significant for Glanbia Plc..
Not exact matches
Still a family
business today we specialise in meringue roulade products using fresh
Irish dairy cream.
The
business provides an important route to market for
Irish casein and through its extensive US customer base, is opening up further opportunities for
Irish dairy products.
Glanbia, the international nutritional ingredients and cheese group, has delivered strong top line revenue, profit and margin growth for the six months ended July 3rd 2010 as its
Irish dairy ingredients
business was restored to profit.
So far this year US cheese and global nutritional have put in a good performance, but according to Glanbia, the
Irish dairy ingredients
business has been the star performer.