JBS-Bertin merger to create biggest leather outfit
21/09/2009
The proposed merger between Brazilian packer firms JBS Friboi and Bertin will create what the two companies have referred to “the largest leather processing operation in the sector”.
The phrase appears in a presentation in which the presidents of the two companies, Joesley Mendonça Batista and Fernando Antônio Bertin, took part on September 16.
The presentation also indicated that JBS and Bertin believe the merger could generate “synergy savings” of around US $275 million.
The companies also confirmed that Bertin has at the moment the capacity to process 21,400 hides a day, and that 13% of its revenue (US $3.6 billion in 2008) comes from leather. If the proposed merger goes through, the combined capacity for leather production will be 148,500 square-metres of leather a day, they said.
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