Devro Q2 bang on target
Leading sausage case manufacturer Devro announced that sales volumes had shown strongth growth in the period from 1 July 2011 to date, compared to the same time last year, and confirmed that it is on course to meet expectations for the current year.
In its interim management statement, the collagen product manufacturer said that momentum in Q2 had continued, helped by growth in Western Europe, Eastern Europe and Russian as well as the new premium Select range, which has seen progress in Japanese markets in particular.
It said: “Whilst the market is very competitive in light of the wide range of pressures impacting food manufacturers, we have benefited from recent work on pricing.”
In September the company announced that it had successfully renewed its five-year £51m credit facility. It had previously announced investments of £45m over the next few years to increase capacity and enhance productivity, with plant upgrades underway in Scotland, Czech Republic, Australia and the USA. £15.1m has already been invested in existing sites in the first half of 2011
The sale of German distribution business Devro GmbH to ViskoTeepak Holding AB Ltd was completed at the end of September.
>Devro renews_ £51m credit facility
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