Brazil's largest meat processor, Sadia, announced it was considering a business tie-up with Perdigao, another major meat processor and exporter, according to mediareports.
Perdigao said it held talks with Sadia on a possible “association” that came to no agreement. Sadia said it has had discussions on partnerships with different companies, including Perdigao.
It gave no further details on the type of cooperation being considered.
Sadia was among a handful of leading Brazilian companies that announced heavy currency losses as the global financial crisis roiled markets last year.
The company last year reported a third-quarter net loss of 777 million reais ($342 million) mainly from foreign exchange derivatives losses.
Source: Fleischwirtschaft International