Marfrig reduces debt and search advancement in food servic

In line with a strategy focused on reducing costs and increasing profitability, the Global Foods reversed R$ 300 Marfrig million loss in the third quarter of last year in R$ 186 million profit in the same period in 2015. The sale of the subsidiary Moy Park mitigated part of the debt and now the radar sights the food service.
During the quarterly earnings release held last Friday (6), the Chief Executive of the group, Martin Secco, told reporters that the completion of the business with the JBS competitor, which acquired the former segment of birds of Marfrig, took place on 28 September and earned a total of US $ 1.2 billion.
Commercial drive and the profit in the third quarter gave a breather to the net loss was R$ million R$ 391 455 million in the year to September, against the same period of 2014, an increase of 14%. Still, the gross debt ended the period valued at $ 15 million.
Market movements
In continuing the strategic plan entitled "Focus to Win," Secco announced the company's decision to sell operations in Argentina, as well as the North American assets of beef jerky.
"They are small operations, both in the United States as productive units of Argentina. We have super advanced conversations today and we hope that [the deal] is finalized in the coming months, "said the President. Until the process is completed, the activities in the two countries follow regularly. The Executive said that the value of sales will not be relevant, but fits in Marfrig's strategy of search for profitability.
Even in the face of a challenging global economy, the company believes that the sector of animal protein remains positive. A notable example was the recent approval of a new plant in Brazil to Beef shipments of Marfrig meat to China.
Considered a very important market, the Asian giant is among the goals of expansion. Data from the Brazilian Association of Meat exporters (Abiec) show that the Chinese led purchases of beef from Brazil in September, with 16.19 million tons and a turnover of $ 81.28 million, import potential size.
Parallel to the strategy of the group, "the opening of the American market would be the icing on the cake, it would help in price", says the Vice President of strategic planning and investor relations, Marcelo Di Lorenzo. It is estimated that the United States allow the entrance of fresh meat in 2016.
American buyers have become a promise not fulfilled since mid-August this year, after a previous projection given by the Minister of Agriculture, Kátia Abreu. According to San, the Congress of that country has not yet signed the permission for exports.
The Chief Executive of Beef in Brazil, Marfrig Anfrew Murchie says that u.s. inspectors are inspecting production facilities in Brazil and four company units have already been approved in a "strong signal that we may have good news on their return [to the us]".
Bets
Despite the reduction in indebtedness, Di Lorenzo, emphasizes that the company is not analyzing any acquisition and is still focused on making investments in the food service segment, service-oriented restaurants, for example. "We keep our guidance [meta] for 2018 and we believe we can achieve the objectives [debt relief] earlier than expected. Next year we're going to be super aggressive in food service segment, "adds the President, Martin Secco.