Italy-JBS-SA the Brazilian beef giant.

ITALY.

CREMONINA GROUP.

The giant Italian beef group Cremonina, recently associated with JBS Brazil, have turned in half year gross profits of US$75 million, with a net six month profit of US$46.2 million.

This figure comes in on a turnover of US$1.5 billion for the six month period .

This was the first European beef venture of JBS SA, the results have pleased everyone at the Brazilian headquarters, in the wake of the economic downturn.

Meanwhile the shares in meat companies on Wall Street, are more unstable.

Pilgrims Pride the largest poultry processor in the USA is in Chapter 11 bankruptcy. Smithfield Foods, the largest pork processor in the USA, were having trouble with re-financing, while the CEO of Tyson’s has walked out causing the shares to fall.