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PRESS RELEASE
Ter Beke creates division structure
Waarschoot, 3 October 2006.
Ter Beke has two core activities: processed meats and ready
meals. The company has developed a growth strategy for both of these activities,
and this has already translated into, among other things, the acquisitions of Di
Pasto (pasta meals) in France and of Langeveld-Sleegers (pre-packed processed
meats) in the Netherlands. The current merger with Pluma in Wommelgem is a very
important strategic step for the Processed Meats division. A further step with
be the expansion of the Ready Meals division.
Both core activities each have specific characteristics and their own dynamic in
the areas of marketing, branding, product development, production, sales and
organisation. That is why Ter Beke has for some years been working on making
both divisions operationally independent. In this context, on 11 May 2006, the
Board of Directors appointed Marc Hofman and Dirk Van de Walle, both directors
of Ter Beke NV, as CEOs of the Processed Meats and Ready Meals divisions
respectively.
A subsequent step in the process will be the creation of a separate legal
structure for the two divisions, which Ter Beke is currently working towards.
The intention is that all the commercial and operational activities, which are
presently carried out by Ter Beke NV, will be contributed into TerBeke-Pluma NV
as regards activities relating to the Processed Meats division, and into
FreshMeals NV as regards activities relating to the Ready Meals division. Both
companies are 100% subsidiaries of Ter Beke NV. Following this realisation, all
the commercial activities of Pluma NV and Ter Beke NV as regards processed meats
will be combined within TerBeke-Pluma NV.
Ter Beke is opting for this legal division structure because it wishes to create
for both divisions the best, flexible base for realising their respective growth
strategies in the significantly differing market environments.
Subject to approval of the fiscal authorities and on condition of approval of
the legal restructuring by the Ter Beke NV shareholders, the new legal
divisional structure will be operational from 1 January 2007. This operation
will not affect the group's consolidation circle.
For further information, please contact:
| Media Luc De Bruyckere Executive Chairman Telephone: +32 (0)9 370 13 17 E-mail: luc.debruyckere@terbeke.be |
Investor Relations Dirk De Backer Company Secretary Telephone: +32 (0)9 370 12 21 E-mail: dirk.debacker@terbeke.be |
TER BEKE IN BRIEF
Ter Beke (Euronext Brussels: TERB) is an innovative Belgian fresh food group
which markets its assortment in 10 European countries. The group has 2 core
businesses: processed meats and fresh ready meals, possesses 9 industrial
establishments in Belgium, the Netherlands and France and counts over 1,600
employees.
a. Ter Beke - Pluma Processed Meats Division
- producer of processed meats for the Benelux and pâtés for Germany and the United Kingdom
- 5 production sites in Belgium (Wommelgem, Waarschoot, Marche-en-Famenne, Herstal and Ruiselede) and 3 centres for slicing and packaging of processed meats, including 2 in Belgium (Wommelgem and Veurne) and 1 in the Netherlands (Milsbeek)
- innovative in the segment of pre-packaged processed meats
- distribution brands and own brand names L´Ardennaise, Daniël Coopman, Pluma and La Rochette
- around 900 employees
b. Fresh Ready Meals Division
- producer of fresh ready meals for the European market
- market leader in fresh lasagne in Europe
- 3 production sites, including 2 in Belgium (Wanze and Marche-en-Famenne) and 1 in France (Alby-sur-Chéran)
- brand names Come a Casa, Pronto and Vamos along with distribution brands
- around 650 employees