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Credit Line Set up for Doux
19 June 2012FRANCE - French Agriculture Minister Stéphane Le Foll together with minister for industrial relief Arnaud Montebourg has called on banking groups to step in to help save the troubled poultry processing group Doux.
Barclays, the regional Crédit Agricole and Crédit Mutuel de Bretagne, with the backing of the Regional Council of Brittany, are to open a credit line worth €35 million for the group that has entered receivership.
The action is expected to keep the plants open for several months to help avoid a complete collapse of the company according to a report in the French newspaper Les Echos.
The ministry of agriculture has set up a crisis team in a bid to keep the company working and lift the threat to a hundred poultry farms in the region that supply the processor.
TheMeatSite News Desk
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