Eridania Béghin-Say, S.A.

Eridania Béghin-Say S.A. is one of the world's leading agro-industrial concerns with operations centered around raw foods and ingredients processing and interests ranging from sugar refining to pet foods. Eridania Béghin-Say's activities are divided into five major divisions: Ceresucre; Cerestar; Central Soya; Cereol; and Provimi. The company's sugar division, Ceresucre, which combines the company's France-based Béghin-Say subsidiary and Italy-based Eridania subsidiary, is the world's number three sugar refiner, operating 26 refineries and processing more than 20 million tons of sugar (primarily beetroot-based), worth some 15 percent of the total European Community sugar quota. Cerestar, the company's starch and derivatives division, produces more than 3.5 million tons of starch products from corn, wheat, and potatoes, as well as 1.9 million tons of starch byproducts. Cerestar, which operates 15 factories, leads the European market in its category and is the fifth largest starches producer in the United States. Central Soya processes nearly 6.5 million tons of oilseeds annually and produces proteins and lecithins for the North American market; through subsidiary CanAmera, this division holds the number three position in its market. In Europe, Cereol is a diversified division offering oilseed processing, seed and olive oil marketing (including sunflower, rapeseed, soya, and other food oils under brands Lesieur, Koipe, Carapelli, and other brand names), and other products, including rice, margarines, and condiments such as ketchup, mustard, and vinegar. This division also contained the Ducros herb and spices subsidiary, which was sold to McCormick in 2000. With 40 production facilities, annual processing of more than 7.2 million tons of oilseeds, 195 million liters of olive oil, and 880 million liters of seed oils, Cereol also represents Eridania Béghin-Say's largest division. The last division, Provimi, is the Rotterdam-based holding company for the company's worldwide pet foods subsidiaries, with 66 production facilities producing nearly two million tons of animal feed products--from raw ingredients to packaged pet foods--each year. Provimi holds seven percent of the world market in this category, making it the international leader. Led by Stefano Meloni, approximately 51 percent (and more than 68 percent of voting rights) of Eridania Béghin is owned by Italian agro-industrial-energy conglomerate Montedison. The company has been hard hit by the economic crises in the Russian and Asian markets and, especially, by the collapse in market prices for much of its key products. As such, Eridania Béghin-Say, which launched a downsizing of its sugar division at the beginning of 2000, has seen its annual sales slip back to barely more than EUR 9 billion, while net profits have slid to less than EUR 93 million--a drop of more than 60 percent over the previous year.

Subject ID: 89522

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Eridania Béghin-Say S.A. is one of the world's leading agro-industrial concerns with operations centered around raw foods and ingredients processing and interests ranging from sugar refining to pet foods. Eridania Béghin-Say's activities are divided into five major divisions: Ceresucre; Cerestar; Central Soya; Cereol; and Provimi. The company's sugar division, Ceresucre, which combines the company's France-based Béghin-Say subsidiary and Italy-based Eridania subsidiary, is the world's number three sugar refiner, operating 26 refineries and processing more than 20 million tons of sugar (primarily beetroot-based), worth some 15 percent of the total European Community sugar quota. Cerestar, the company's starch and derivatives division, produces more than 3.5 million tons of starch products from corn, wheat, and potatoes, as well as 1.9 million tons of starch byproducts. Cerestar, which operates 15 factories, leads the European market in its category and is the fifth largest starches producer in the United States. Central Soya processes nearly 6.5 million tons of oilseeds annually and produces proteins and lecithins for the North American market; through subsidiary CanAmera, this division holds the number three position in its market. In Europe, Cereol is a diversified division offering oilseed processing, seed and olive oil marketing (including sunflower, rapeseed, soya, and other food oils under brands Lesieur, Koipe, Carapelli, and other brand names), and other products, including rice, margarines, and condiments such as ketchup, mustard, and vinegar. This division also contained the Ducros herb and spices subsidiary, which was sold to McCormick in 2000. With 40 production facilities, annual processing of more than 7.2 million tons of oilseeds, 195 million liters of olive oil, and 880 million liters of seed oils, Cereol also represents Eridania Béghin-Say's largest division. The last division, Provimi, is the Rotterdam-based holding company for the company's worldwide pet foods subsidiaries, with 66 production facilities producing nearly two million tons of animal feed products--from raw ingredients to packaged pet foods--each year. Provimi holds seven percent of the world market in this category, making it the international leader. Led by Stefano Meloni, approximately 51 percent (and more than 68 percent of voting rights) of Eridania Béghin is owned by Italian agro-industrial-energy conglomerate Montedison. The company has been hard hit by the economic crises in the Russian and Asian markets and, especially, by the collapse in market prices for much of its key products. As such, Eridania Béghin-Say, which launched a downsizing of its sugar division at the beginning of 2000, has seen its annual sales slip back to barely more than EUR 9 billion, while net profits have slid to less than EUR 93 million--a drop of more than 60 percent over the previous year.

Subject ID: 89522

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