Lucerne (awp) – New shareholder, the Italian food group Newlat, which now holds almost 11% of the capital of Hochdorf, wants to restructure the company in difficulty. A recovery project will be proposed to the dairy processor, the Italian company told AWP.
Newlat describes the stake acquisition as a strategic step to restructure Hochdorf. A relaunch, as well as a purchase of operational activities, are two options being studied.
The Italian group considers that Hochdorf’s activities are complementary to its own in specialized nutrition. Newlat presents itself as the only owner of a baby milk powder factory in Italy.
Newlat intends to propose a member to the board of directors and present a “revitalization” project.
The Italian company did not indicate the amount of its investment in Hochdorf. The share price, above 60 Swiss francs three years ago, has fallen to 1.23 Swiss francs recently. On the stock market, the announcement caused the stock to soar, which ended up 257% at 5 Swiss francs, in an SPI down 0.45%.
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