Article: Two key Brazilian Parmalat units file for bankruptcy protection


AP Worldstream
01-28-2004
Eds: LEADS thruout to UPDATE with Parmalat Brasil's local parent company also filing for bankruptcy protection, comment from agriculture minister, background on Parmalat's Brazilian operations; TRIMS

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By ALAN CLENDENNING

AP Business Writer

SAO PAULO, Brazil (AP) _ Two key Brazilian units of fallen Italian food and dairy giant Parmalat filed for bankruptcy protection Wednesday in a bid to keep the company afloat in South America's largest country amid increased demands for overdue payments.

Parmalat's Brazilian operations have up to US$1.8 billion in debt. The dairy division that filed for bankruptcy protection, Parmalat Brasil Industria de Alimentos ...

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