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09/08/2005
Ballymoney Foods future more secure after UK sale
The future of a Co Antrim food processing plant looks more secure after it was sold to a larger UK food processor.
Ballymoney Foods laid off more than 40 staff in June after the firm struggled to compete with low priced imports from the continent.
However, a spokesman today confirmed that a deal has been agreed to sell the business despite farmer-investors only recovering a third of their money from the deal.
Last year the company’s factory had been saved from closure when a growers consortium bought it for a reported £2.75 million.
However, the firm has been unable to meet a sales target of 300 tonnes per week which was set by the group of 60 potato growers from Northern Ireland and the Irish Republic who took over the business last year.
Management at the company said weekly sales were currently running at less than 200 tonnes.
(MB/SP)
Ballymoney Foods laid off more than 40 staff in June after the firm struggled to compete with low priced imports from the continent.
However, a spokesman today confirmed that a deal has been agreed to sell the business despite farmer-investors only recovering a third of their money from the deal.
Last year the company’s factory had been saved from closure when a growers consortium bought it for a reported £2.75 million.
However, the firm has been unable to meet a sales target of 300 tonnes per week which was set by the group of 60 potato growers from Northern Ireland and the Irish Republic who took over the business last year.
Management at the company said weekly sales were currently running at less than 200 tonnes.
(MB/SP)
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