2008-03-17

Parmalat grows sales 8.4%

Parmalat's sales in Colombia rose 8.4% in 2007 to total Peso$348.196bil whilst the dairy group's Ebitda rose from year 2006's Peso$32.39bil to Peso$42.995bil. Unit sales dipped 8.8% when compared with 2006 with pasteurised milk unit sales down 9.4% (they represent 79% of total Parmalat sales volume). Unit sales of UHT milk (7% of total sales) rose 2.7% and powdered milk unit sales (6% of the total) slipped by 11.4%.

Parmalat-Proleche Colombia is the third leading pasteurised milk player nationwide, topping the charts in Bogota and winning the silver medal in Medellin and Cali. The firm invested almost Peso$11bil locally last year; this year, it will invest in launching new products. Parmalat processes pasteurised milk at its plants in Bogota, Cali, Medellin, Barranquilla and Cerete and powdered milk in China, Medellin and Cerete.

Publication: SABI - Business News
Provider: South American Business Information
Date: March 16, 2008

La Bodega to be operated by Ventana

The Colombian gold-mine La Bodega is to be operated by the Canadian firm Ventana Gold Corporation. The company has secured a loan of US$750,000 and will use 67% of the credit to make a payment related to La Bodega; the other third will become working capital for the reserve.

The loan stems from a company controlled by a member of the Ventana board, said firm set to receive warrants further down the line for negotiation on the stock exchange. Ventana Gold has a concession of 3,788 ha for gold exploration in the Colombian municipalities of California and Vetas in the Santander region.

Publication: SABI - Business News
Provider: South American Business Information
Date: March 16, 2008

Carrefour and Colsubsidio to create joint drug-store chain

Carrefour is to enter the Colombian drug-store market in alliance with Colsubsidio, the French giant hoping to open 45 outlets in its existing hypermarkets and in those it will be opening this year. The Colsubsidio supermarkets will remain in competition with Carrefour, explains Diana Londono of the former.

The new chain will carry the names of both firms in some form. Colsubsidio registered medicine sales of Peso$183bil last year for a 5.5% national market-share. It boasts 125 drug-stores in Cundinamarca and will look to open another 20 exclusive of the alliance with Carrefour.

Publication: SABI - Business News
Provider: South American Business Information
Date: March 16, 2008

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