Tiger Brands finds more listeriosis. Outbreak could cost it R800 million
…There is no direct link to the presence of listeria in our factories, and the deaths… Tiger Brands will never shirk its responsibilities if it is proven that we are the cause of any deaths… We’ve done what you would expect us to do…Noel Doyle, Tiger Brands
The world’s largest ever listeriosis outbreak could end up costing Tiger Brands up to R800 million:
Legal claims of about R425 million for more than 180 deaths blamed on processed meat from its subsidiary, Enterprise Foods.
The cost of suspending operations and destroying suspect food would be between R337 million and R377 million (Tiger Brands hopes to recoup R94 million from insurers).
Tiger Brands on Monday conceded that it had independently verified the Department of Health’s finding that there was listeria in its Polokwane factory.
Nevertheless, the group refuses to admit guilt for any casualties.
On Monday the company recalled all products manufactured at its Value Added Meat Products facility in Pretoria after it detected listeriosis.
The Money Show’s Bruce Whitfield interviewed Tiger Brands CFO Noel Doyle.
Listen to the interview in the audio below (and/or scroll down for more quotes from it).
If these suspensions of operations continue… each month costs us R50 million…Noel Doyle, Tiger Brands
We’ve never actually denied… that’s why we closed down those factories…Noel Doyle, Tiger Brands
It’s a significant cost, even for a company of Tiger’s size.Noel Doyle, Tiger Brands
We are working flat-out… to try and get to the bottom of how this bacteria has found itself in our factories…Noel Doyle, Tiger Brands
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