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Fresh and prepared fruit and vegetable producer Greenyard announced on Tuesday, pre-market, a first estimate of the financial consequences of product recalls, following the discovery of a listeria strain in one of its factories in Hungary.
This impact is estimated at about 30 million euros "after insurance". Several dozen cases of listeria contamination, including nine deaths, have been reported in Europe in the last three years. A similar strain was found at a Greenyard plant in Hungary which, as a precautionary measure, was forced to launch a major recall, still in progress, of products. The plant in question was closed in order to determine the origin of the contamination.
According to the company, the 30 million euros mentioned include costs related in particular to products, transport, handling, storage , destruction, recourse to subcontracting …
Greenyard estimates that a third of this amount will have an impact on its balance sheet, through depreciations, and that two thirds will have an impact on its liquidity. "At this stage, more than 80% of the amount of recalls should be non-recurring items," said the listed company, whose market capitalization lost more than a third of its value Monday on the Brussels Stock Exchange. 19659004] Greenyard furthermore confirms that it is insured with regard to its general responsibility and that related to the marketing of its products. "We do not yet have a vision on possible claims for physical damage or products," says the Belgian company which promises to inform the market of any developments in the case.
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