United International Enterprises Limited (UIE), the majority
stakeholder in vegetable oil firm Aarhus United, confirms it will
sell its considerable stake in the Danish firm, due to be divested
by January 2005.
First half sales at Aarhus United fell 3 per cent, eroded by price
competition in bulk oils, but improved volumes, particularly in
Mexico, and reduced costs helped it generate solid operating
profits.
Expecting a higher uptake of vegetable fats by European chocolate
manufacturers following the new '5 per cent' chocolate rule, Danish
oils and fats supplier Aarhus United sees a drop in income for
2003, compounded by currency...