ANZCO Foods' net profit plunges
Meat processor ANZCO Foods’ net profit has plunged on the back of lower market returns which squeezed margins and impacted business performance.
The move secures the future of the French no-till specialist, having called in the administrators in October 2024. The new consortium is led by a long-time Novag customer and farmer, Jean Paul Rault.
“Our objective is to invest in the future of the brand, preserve its unique know-how, safeguard jobs, alongside ensuring continuity of service for users, while leading the company towards solid and sustainable development,” says Rault.
All warranties and commitments for the existing global machine fleet will be honoured, ensuring a continuous after-sales service for all Novag customers, while the entire team in France and at Novag GmbH in Germany remains operational.
Founded in 2011 as a start-up, Novag now sells its machines in more than 25 countries inside and outside Europe, with Ashburton head-quartered Carrfields Machinery importing and distributing the brand in New Zealand.
The company develops and produces its direct seeding units at its main site in Fressines, western France, and established its first subsidiary, Novag GmbH, in Hannover, Germany in 2022. The company makes a product range of no-till machines in working widths of up to 10m.
