Podravka to close slaughterhouse in its subsidiary Danica by end-2012

Podravka has informed the Zagreb Stock Exchange that it plans to optimize processes in the Podravka Group and that a feasibility study for cattle slaughter at Danica d.o.o. has been prepared by the Supervisory Board of Danica and the Managing Board of Podravka.

According to aforementioned study, the cattle slaughter line brought about HRK 14 million (EUR 1.859 million) losses to the company in 2011 and continued in the same manner in the first six months of this year, thus endangering the overall profitability of Danica.

For that reason, Danica's proposal for closing the cattle slaughter line on December 31st has been accepted. It should also be mentioned that fresh meat sales have dropped over the last six months.