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Article: Saved at the bell: Frenzel seals deal to buy Austria Frost and preserve jobs.(BENELUX GREEN SCENE)
- Article from:
- Quick Frozen Foods International
- Article date:
- January 1, 2006
CopyrightCOPYRIGHT 2006 E.W. Williams Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Jobs for 300 frozen vegetable factory employees and the future for just as many farmers were on the line as the Austria Frost plant in Gross-Enzersdorf (10 kilometers east of Vienna) teetered on the edge of bankruptcy in December. Frenzel Tiefkuhlkost stepped forward at the eleventh hour to buy it for 7.6 million euros.
"The agreement came at the last minute with energetic support of the government, real estate property owners VA Tech and Immorent, and the plant's principal client, Unilever," said Christoph Staph, bankruptcy trustee. "If the company had not been sold then, it would have been closed on December 22."
With frozen food inventory [including ...