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3 February 2010 Merger advantages Cehave Landbouwbelang and Agrifirm defined |
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PRESS RELEASE Embargo until 3 February 2010, 10.00 am 3 February 2010
Agrifirm and Cehave Landbouwbelang estimate merger advantages of € 20 million per yearVEGHEL/MEPPEL The merger investigation, carried out by the cooperatives Cehave Landbouwbelang and Agrifirm in the last months, shows an estimated yearly advantage of about € 20 million in case of a merger between both companies. In the first year, this advantage is partially levelled out by merger costs.
The boards of Cehave Landbouwbelang and Agrifirm announced this to the members councils of both cooperatives. The merger investigation has been completed and conclusions have been written down in a merger report. The completion of the merger investigation forms a next step in the merger process. Besides the members councils, also the works councils and trade unions have been informed. The final decision with regard to a merger will be taken by the members councils of Agrifirm and Cehave Landbouwbelang and is expected at the end of March.
The estimated merger advantages consist of cost reductions and purchasing advantages. Besides that, an increase in joint innovative strength leads to benefits. The cost reductions will among others take place by a decrease of around 165 jobs. Efforts will be made to realize this without compulsory redundancies. For about 150 employees, the workplace will change if the merger takes place. Headquarters of the intended merger company will be situated in Apeldoorn South.
The merger report also contains the proposed name and logo of the new company. With the principle “the best of both worlds” in mind, the name of one party (Agrifirm) and the logo and colours of the other party (Cehave Landbouwbelang) have been chosen. The name Agrifirm is positively known and can be used both nationally and internationally; the Cehave Landbouwbelang-colours green and yellow are prominently visible. The ‘linking’-logo of Cehave Landbouwbelang communicates cooperation and innovative strength, both pillars with regard to the intended merger.
In the coming period both cooperatives organize members meetings, in which the results of the merger investigation will be discussed. The works councils and trade unions will give their opinion in the next months. Also the result of the investigation of the Netherlands Competition Authority still has to follow. The decision by the members councils of the cooperatives Cehave Landbouwbelang and Agrifirm with regard to the intended merger is expected at the end of March.
Editor's note:
Cehave Landbouwbelang is a cooperative venture with approximately 6000 members in the Netherlands. The core activities cover high-quality (components of) animal feed and raw vegetable materials and business resources. The company's production facilities are in the Netherlands, Belgium, Germany, Hungary, Poland and China and it exports worldwide. The 2100 staff at Cehave Landbouwbelang create an annual turnover of €1.2 billion, making it one of the larger, leading European companies in the field of animal feed.
www.cehave.com
Agrifirm is a cooperative that has 15,000 Dutch farmers and market gardeners as its members. The company supplies high-quality products and services for crop cultivation and animal husbandry. It operates throughout the Netherlands and Germany. Its subsidiary Strahmann GmbH operates in north-eastern Germany. Agrifirm stands out from the crowd for its focused advice, knowledge development and passion for the business. This allows Agrifirm members to produce 'the best the country has to offer'. Agrifirm has a turnover of more than €900 million per annum and has 1050 staff.
www.agrifirm.com
For more information:
Agrifirm
A. Loman, tel. +31 (0)522-268123
Managing director
Cehave Landbouwbelang
C. H. L. Sijssens, tel. +31 (0)413-382585
CEO
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