Parmalat
 |
|
| Società per azioni | |
| Traded as | BIT: PLT |
| Industry | Food processing |
| Founded | 1961 |
| Founder | Calisto Tanzi |
| Headquarters | Collecchio, Italy |
|
Key people
|
Francesco Tatò (Chairman), Yvon Philippe Guerin (CEO) |
| Products | Milk and dairy products, fruit juice, tea |
| Revenue | €6.416 billion (2015) |
| €276.9 million (2015) | |
| Profit | €145.8 million (2015) |
|
Number of employees
|
27,596 (end 2015) |
| Parent | Lactalis |
| Website | www.parmalat.com |
Parmalat SpA is a multinational Italian dairy and food corporation. Having become the leading global company in the production of long-life milk using the ultra-high-temperature (UHT) process, the company collapsed in 2003 with a €14 billion ($20bn; £13bn) hole in its accounts in what remains Europe's biggest bankruptcy. Since 2011, it is a subsidiary of French group Lactalis. Today, Parmalat is a company with a global presence, having operations in Europe, the United States, Canada, Australia, China, and South Africa.
Still specializing in UHT milk and milk derivatives (varieties of yogurt, cheese, butter, ice cream, etc.), the group also has an interest in fruit juices. These products are distributed under brand names such as Lactis, Santal, Malù, and Kyr. Its worldwide operations include almost 140 production centres and some 16,000 employees, while 5,000 Italian dairy farms are dependent on the company for the bulk of their business. Its shares are listed on the Borsa Italiana.
In 1961, Calisto Tanzi, a 22-year-old college dropout, opened a small pasteurisation plant in Parma. Two decades later, the company had grown into a multinational corporation diversifying into milk, dairy, beverage, bakery, and other product lines in the 1980s, becoming listed on the in 1990, and expanding further in the 1990s. By 22 April 2002, Parmalat's share price had reached a record and the company was valued at €3.7bn, employing over 30,000 people in 30 countries. The company began to expand and had listed in its portfolio amongst other things: an expansion in the space of a decade from six countries into ownership of ParmaTour (a travel group) and Odeon TV, Parma F.C., Paulista Futebol Clube and S.E. Palmeiras and sponsorship of S.L. Benfica, Boca Juniors, C.A. Peñarol, and Brazilian Formula One racing driver Pedro Diniz.
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Wikipedia