Marfrig Continues To Diversify

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Brazilian meat processing firm Marfrig, which in 2006 generated over 85% of its revenues from fresh beef, has announced it is to buy a domestic turkey business from France-based poultry giant Doux, as part of a strategy of product diversification. The move comes after Marfrig announced that its net revenues for the first quarter of 2009 were up by 110% but that a fall in margins had seen it slip into the red, with a net loss of BRL38.1mn for the period. The company attributes this fall in margins to the economic crisis, with January and February marked by low