LONDON--Food producer Greencore Group PLC (GNC.LN) Friday
confirms that it supplied the Chosen By You 350g Beef Bolognese
Sauce that Asda has withdrawn, following the detection of traces of
equine DNA in a screening test.
MAIN FACTS:
-Asda has also withdrawn three other Greencore products, none of
which contain equine DNA, as a precautionary measure--600g Beef
Broth Soup, 500g Meat Feast Pasta Sauce, and 400g Chilli Con Carne
Soup.
-Revenue of the Beef Bolognese Sauce represented 0.3 million
pounds of Greencore's GBP1.16 billion turnover in its last
financial year; annualized revenue of all products withdrawn
represents less than GBP1.0 million.
-Company is currently awaiting the results of further
quantitative tests on the 350g Beef Bolognaise Sauce that will
validate the presence and the extent of the equine DNA.
-Sauce contained meat that was supplied to Greencore under
contract by the ABP Food Group's Nenagh plant in County Tipperary,
Ireland, an approved and regularly audited supplier.
-Company is working closely with them to determine the full
facts as we await the results of the further tests.
-Company is participating in full with the intensive industry
testing program to examine the full supply chain in order to
restore consumer confidence.
-Shares at 0945 GMT down 15 pence, or 14%, at 88 pence valuing
the company at GBP402.13 million.
-Write to Ian Walker at ian.walker@dowjones.com
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