Agência Brasil
Rio – The president of Parmalat Brasil, Nelson Bastos, reports that the firm could become a domestic Brazilian enterprise, breaking its ties with the Italian multinational giant that plunged into a financial crisis at the end of last year. Bastos says the firm is going through a strong recovery and that by the end of this year should reach an agreement with its creditors allowing it to become Brazilian.
A Parmalat Brasil factory in Itaperuna, state of Rio de Janeiro, has just come out of five months in receivership. Bastos says the factory is viable economically and will continue producing powdered milk and other dairy products, along with keeping up on payments of suppliers and employees.
Bastos says that all of Parmalat Brasil units are now in operation although some closed during the crisis. "Today all units are in business. In July we had revenue of US$21.6 million (R$66 million), an amount 140% more than the firm was making at the height of the crisis," declared Bastos.
