June 29, 2009
France's Unicopa falling apart
French cooperative Unicopa appears to be falling apart as its operations began to change its appearances.
Coopagri Bretagne and Terrena has taken over the cooperative's animal feed subsidiary Nutrea.
Unicopa, which is currently facing serious difficulties, has a 66 percent share in the animal feed division and Evialis is the other major shareholder with 24 percent.
Terrena only invest in the feedmill without entering the holding.
Nutréa sells 1.4 million tonnes of feed and employs 550 employees at eight sites in the west of France.
The largest plant located in Languidic employs 200 workers and mainly produces poultry feed.
Eolys, the main shareholder of Unicopa remains heading the new holding company. Pigalys and Cam 56 also joined the operation without entering the holding.
The new combination covers a quarter of animal nutrition in Britanny.
Under the protection of Ciri (Inter-ministerial Committee for Industrial Restructuring), the group now seeks cooperative partners for Brocéliande, its seasoning branch and the dairy group Entremont Alliance in which it has a minority share together with financer Albert Frère.
"We are witnessing the end of the group Unicopa," said trade analysts. "Industrial activities are divested one after the other. There will eventually remain three coops; Eolys, CAM 56 and Pigalys.