RIE: Divestment of onion rings

(Thomson Reuters ONE) - Rieber & Søn ASA has signed an agreement to divest the natural andformed frozen onions rings activities from Rieber Holland BV(Cronions). Subzero Frozen Produce Holding BVhas acquired these activities performed by Rieber Kruiningen, whichis the object of sale.The divestment is a part of Rieber & Søn's strategic platform "OurFuture" reviewing and focusing on what is our core business. Thedivestment of frozen onion ring activities allows Cronions to solelyfocus on crispy fried onion activities, a core product in line withinthe overall portfolio of the parent company Rieber & Søn.For the last couple of years, onion rings has not been a profitableproduct for Cronions. We expect that the growth of the frozen onionsrings segment are better suited to an owner with similar products andnecessary expertise.Cronions had a turnover of approx. 35 mEUR in 2008. Rieber Kruinengenrepresented approx. 8 mEUR of this turnover. The divestment of RieberKruinengen will improve the profitability of Cronions. The divestmentwill give a loss of 1,8 mEUR, which will be taken as a one-off itemin third quarter 2009.The transaction will include 26 employees, all equipment andmachinery. The factory building of Rieber Kruiningen is rented, andthe activities will continue with new owner.Bergen 1 September 2009Contacts:CEO Patrik Andersson Mob. +46 76 11 13 400Financial Director Tor Lund Mob. +47 95 27 28 10Director of Communications Geir Mikalsen Mob. + 47 90 6208 51This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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Bereitgestellt von Benutzer: hugin
Datum: 01.09.2009 - 08:11 Uhr
Sprache: Deutsch
News-ID 5303
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