Colbex passes to the producers
Julie D****r, Earth of on our premises December 10, 2004
The cattle producers of Quebec have just acquired the Colbex slaughter-house. After intense negotiations, the partys signed an agreement of principle on the sale of part of the actions of the Colbex slaughter-house and factory of Produits transformation of Levinoff meat ltée with the producers.
“It should not be forgotten that the Federation of the producers of bovines was in negotiations with this slaughter-house for more than six months. It is not a business of last minute, points out the president of the Federation, Michel Dessureault. The agreement of principle must lead us to conclude from the documents for December 20”, adds it. Thereafter, the Federation will carry out the diligent checking, which should last a few weeks or even a few months. The legal structure also remains to be determined. The committee of negotiation bovines of reform will meet the next week to discuss this question. The stockbreeders will have to then ask for the exemptions necessary to the Control of the agricultural markets and food of Quebec.
The details of the agreement remain nevertheless obscure. Concordant information speaks about a transaction passing very close to the 50 M$, to which the producers would hold 80% of the actions of the company. However, Michel Dessureault does not want to advance. “50 M$, it is with half forgery. The final figure, it is the diligent checking which will give it to us”, ensures it. It confirms however that “the producers are strongly majority” and that the current managers will remain in place “for one five years minimal period, with possibility of extension connected directly to the results”.
What happenhappen does bottom price?
For Monday, the good cull cows have been sold to 0,26 $/delivers at least, a price fixed for the four next months. One counts on the governmental assistance and the profits of the slaughter-house to reach the bottom price of 0,42 $/delivers required by the Federation. This price will be in force until December 31, 2005. “The State ensured that for the evolution of the 0,42 $, there are part of the contributions which will come from the benefit of the slaughter-house and a part which will come from the government. It is necessary to quickly turn over the complement of price to the producers. If it is needed, one will borrow”, ensures Michel Dessureault.
Insane cow
In addition to the financing of the bottom price, the leaders of the UPA claim with the government a supplementary programme to fill the losses caused by the crisis of the insane cow. A renewal of program ESB-3 for the animals of reform would be largely appreciated. However, the stockbreeders wish to make pass the rate of reform accepted from 16 to 25% for the dairy sector and from 8 to 12% for cow-calf. The producers also ask for financing for the acquisition of Colbex/Levinoff. The Federation will be able to also count on taken of 20$ per cow sold by the auction, into force on next 13 December.
Julie D****r, Earth of on our premises December 10, 2004
The cattle producers of Quebec have just acquired the Colbex slaughter-house. After intense negotiations, the partys signed an agreement of principle on the sale of part of the actions of the Colbex slaughter-house and factory of Produits transformation of Levinoff meat ltée with the producers.
“It should not be forgotten that the Federation of the producers of bovines was in negotiations with this slaughter-house for more than six months. It is not a business of last minute, points out the president of the Federation, Michel Dessureault. The agreement of principle must lead us to conclude from the documents for December 20”, adds it. Thereafter, the Federation will carry out the diligent checking, which should last a few weeks or even a few months. The legal structure also remains to be determined. The committee of negotiation bovines of reform will meet the next week to discuss this question. The stockbreeders will have to then ask for the exemptions necessary to the Control of the agricultural markets and food of Quebec.
The details of the agreement remain nevertheless obscure. Concordant information speaks about a transaction passing very close to the 50 M$, to which the producers would hold 80% of the actions of the company. However, Michel Dessureault does not want to advance. “50 M$, it is with half forgery. The final figure, it is the diligent checking which will give it to us”, ensures it. It confirms however that “the producers are strongly majority” and that the current managers will remain in place “for one five years minimal period, with possibility of extension connected directly to the results”.
What happenhappen does bottom price?
For Monday, the good cull cows have been sold to 0,26 $/delivers at least, a price fixed for the four next months. One counts on the governmental assistance and the profits of the slaughter-house to reach the bottom price of 0,42 $/delivers required by the Federation. This price will be in force until December 31, 2005. “The State ensured that for the evolution of the 0,42 $, there are part of the contributions which will come from the benefit of the slaughter-house and a part which will come from the government. It is necessary to quickly turn over the complement of price to the producers. If it is needed, one will borrow”, ensures Michel Dessureault.
Insane cow
In addition to the financing of the bottom price, the leaders of the UPA claim with the government a supplementary programme to fill the losses caused by the crisis of the insane cow. A renewal of program ESB-3 for the animals of reform would be largely appreciated. However, the stockbreeders wish to make pass the rate of reform accepted from 16 to 25% for the dairy sector and from 8 to 12% for cow-calf. The producers also ask for financing for the acquisition of Colbex/Levinoff. The Federation will be able to also count on taken of 20$ per cow sold by the auction, into force on next 13 December.
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