The Danish meat producer and exporter, Danish Crown, plans to boost its earnings by 1.5 billion DKK annually ($220 million) within two years, the company said on Wednesday, August 16. This is according to Reuters, a part of the firm’s ongoing restructuring.
Danish Crown also intends to focus its sales on customers who prioritize Danish pork, it said in a statement.
“The pressure is mainly driven by an unusually prolonged and sharp decline in exports to key markets like China,” the company explained in the statement.
Danish crown intends to reduce production costs by at least 500 million DKK per year. The company aims to make better use of the capacity at its slaughterhouses and factories, as well as invest in a more high-tech setup. They also intend to reduce administrative costs by a minimum of 250 million DKK annually by implementing more efficient methods.