Back to Business for Timbercorp Olives
By Sandra Godwin,
The Boundary Bend olive harvest was under way this week after a halt caused by Timbercorp’s financial woes.
After a three-day shutdown, workers at Timbercorp olive groves at Boort and Boundary Bend got back to the business of harvesting olives last week.
The harvest ground to a halt earlier in the week as Timbercorp administrator Mark Korda and grove managers Boundary Bend Management spent almost two days in the Federal Court in a bid to find a way to pay for it.
Boundary Bend executive chairman Rob McGavin said they struck a deal which ensured the rights of all parties were protected.
An initial proposal that the harvest be funded by the sales of oil from the crop was rejected in favour of a plan for Boundary Bend to buy the unharvested fruit for $15.5 million.
Boundary Bend will take the first $11 million from expected sales of $26.5 million of olive oil to cover its costs.
The balance will go to Timbercorp grower investors.
Posted in Australia | NZ, Business, Olive Oil, Olive Tree by: Olives101
Comments Off on Back to Business for Timbercorp Olives
Moroccan chicken with chickpeas and olives
Posted in Recipes by: Olives101
Comments Off on Moroccan chicken with chickpeas and olives
Fish, nuts and olive oil may cut risk of age-related blindness
A diet of fish, nuts and olive oil, as well as moving away from trans fats, can help lower the risk of a common eye disorder, two separate studies reported this week.
The studies both found that adding omega-3 fatty acids to a diet significantly reduced the risk of age-related macular degeneration (AMD), a disease that destroys the macula, which allows individuals to have sharp, central vision needed to read and drive.
In the first study, researchers at the University of Sydney’s Westmead Hospital examined 2,454 volunteers, who were asked to keep a log of their food intake from 1992 to 1994.
They found that eating one serving of fish weekly cut the risk of developing early AMD by 31 percent while a serving or two of nuts weekly lowered AMD risk by 35 percent.
[Source] Click here to continue
Posted in Health, Olive Oil by: Olives101
Comments Off on Fish, nuts and olive oil may cut risk of age-related blindness
Spanish olive oil producers get support from the EU to expand export markets
In an effort to avoid the local drop in sales, Spanish wine and olive oil producers decided to join forces and boost the export market over the next year through promotion and marketing campaign also supported by the Spanish government and EU with a budget between 18 and 45 million euros.
The export market of these products is good but products are sold in bulk and therefore at reduced prices. To increase sales, wine will receive around 16 million euros in EU funds this year, 32 million euros next year and 40 million euros for later campaigns that will take place only in non EU countries.
Olive oil received 1.6 million campaign for the promotion of olive oil in non EU countries financed by Icex, the Andalucian regional government and other 5 million will be used to promote it in countries such as Holland, Belgium, the United Kingdom, France and Spain itself.
[Source] Click here
Posted in Europe | U.K, Olive Oil by: Olives101
Comments Off on Spanish olive oil producers get support from the EU to expand export markets
SOS Cuetara to issue 200 mln euros of shares to plug hole
Spain’s SOS Cuetara (SOS.MC) said on Sunday it would issue 200 million euros of new shares to plug a hole in its accounts after top executives were discovered siphoning off funds to buy shares in the olive oil bottler.
SOS said it was restating 2008 results and booking a loss after it emerged that chairman and deputy chairman Jesus and Jaime Salazar had channelled 212 million euros of the firm’s money into a holding company to buy SOS shares and then sell them to a sovereign wealth fund. That sale never went through.
The brothers were fired in April and neither has been arrested.
“After a long session that lasted all of Sunday, the board decided to make a significant provision against 2008 results,” the statement from the world’s biggest olive oil bottler said.
Following the restatement, which also took account of speculative exchange rate dealing, SOS said it made a net loss of 190 million euros last year, not the 32 million euro profit it reported in March.
Posted in Business, Europe | U.K, Olive Oil by: Olives101
Comments Off on SOS Cuetara to issue 200 mln euros of shares to plug hole
Copyright © 2025 Olives101.com | Entries 
and Comments