Parmalat SA meets with FAWU

Parmalat South Africa Corporate Affairs Director, Theo Hendrickse, met the Food and Allied Workers Union (FAWU) delegation led by the National President, Patrick Johnson, and the Deputy Secretary General, Katishi Masemola at the company Head Office in Stellenbosch on Tuesday, 13 January 2004.

The meeting was called by FAWU, following recent media speculation about the possible sale of the business of Parmalat in South Africa. FAWU represents 40% of the approximately 1800 Parmalat South Africa employees.

Following a briefing about the business operations of Parmalat South Africa and how it operates within the Parmalat global group, the FAWU delegation expressed its satisfaction that Parmalat South Africa is a sound business which operates in accordance with the principles of good corporate governance. The parties are committed to promoting stability in the company and amongst stakeholders during this period and agreed that ongoing speculation about an imminent sale of the business of Parmalat South Africa is without foundation and, in fact, counter-productive.

Parmalat South Africa expressed a commitment to proper communication with its key stakeholders and agreed to keep FAWU and its employees informed of significant new developments. The parties noted that Mr Enrico Bondi, the newly appointed administrator of the Parmalat holding company in Italy, which is now under special administration sanctioned by the Italian Government, will in all likelihood only announce his plans for the group by June. The parties are, however, confident that the business operations of Parmalat will continue to contribute to the South African economy and employment in this country.