Wednesday, 18 May, 2022

Ukrainian group MHP is in talks to take over the poultry house Doux

As we announced on Saturday exclusively on our website, MHP proposed Friday evening a plan to take over the Doux poultry farm, resulting in the dismissal of 550 employees, or nearly half of the 1,200 employees of the poultry group including the he majority shareholder is the Terrena cooperative group. “Discussions are underway with the shareholders of the Doux group and the stakeholders involved in the restructuring of the group, including on the perimeter, there is no firm offer for the entire Doux group”, confirmed a spokesperson for the MHP group at AFP on Monday morning. “The idea is to carry a robust and sustainable industrial project. This will require restructuring, but not of the order of what has appeared in the press,” she added.

According to our information, long discussions did indeed take place on Sunday. The Interministerial Committee for Industrial Restructuring (CIRI), attached to Bercy, would have fought to reduce the scale of job cuts. In the end, MHP would undertake to retain 1,000 employees.

Skepticism remains

“MHP’s intention is to relaunch the company with a robust industrial project in line with the company’s strategy and reflecting market dynamics,” the group said in writing. “This project will have to take into account the specificities of the company and its environment, in particular the need to preserve know-how and jobs in Brittany, in consultation with the sector and all the players”, he explains. .

The multiple business plan changes made by MHP in a few days, between Friday and Sunday, however, leave many people close to the file skeptical about the seriousness of the Ukrainian operator. Especially since the latter wants to appeal, for the restructuring of Doux, to significant public subsidies. The plan presented on Friday called for the release of public money to the tune of around 70 million euros, or half of the total investment amount.

Listed on the London Stock Exchange, MHP presents itself as the leader in poultry in Ukraine and achieved a turnover of 1.3 billion dollars in 2017. “We are in the expectation, it is sure that ‘There will be breakage but we have not been told the number, or anything at all, “Patrick Moigne, central CGT union delegate at the CCE de Doux told AFP.

“If it’s no it’s liquidation”

For him, “it will be settled this week whether it is yes or no with the partner, if it is no it is liquidation”. A central works council (CCE) is scheduled for Tuesday. “The Brazilians have flooded the Saudi market, it’s not that we don’t have customers, it’s the price that is the problem. With every ton we produce we lose money,” he explains. he.

Terrena, the second largest French agricultural cooperative group, had indicated last week that it could not support “eternally” the poultry company Doux, in search of 100 million euros to change its economic model.

(with AFP)