ANZ to fund Cedenco Foods to keep business going

Monday, 9 November 2009, 12:03 pm
Press Release: ANZ Bank

MEDIA RELEASE 9 November 2009

ANZ to fund Cedenco Foods to keep business operating

Today ANZ National Bank Limited appointed receivers into food processors Cedenco Foods. ANZ National has committed seasonal funding to the receivers to allow Cedenco to continue to trade.

ANZ National recognises the importance of Cedenco to the Gisborne and Hawkes Bay communities and wishes to reassure these communities that seasonal funding is in place. ANZ National also wishes to reassure the growers who have planted crops for Cedenco that there is funding to meet Cedenco’s obligations to purchase those crops.

ANZ National's Australian parent company, Australia and New Zealand Banking Group Limited, has also appointed receivers into SK Foods Australia Pty Limited, Cedenco JV Australia Pty Limited and SS Farms Australia Pty Limited in Northern Victoria, Australia. Seasonal funding has been committed to the receivers of these businesses also.

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