Euro: already part of daily life at Arla Foods
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- 03 January 2002
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The launch of the Euro on January 1, 2002 in 11 European countries is not expected to have an impact on Arla Foods.
“Since the first phase of the Euro project, the single market, in 1989, Arla Foods has been making continual adjustments to adapt to the ongoing changes,” says Mogens Møller, Arla Foods’ Finance Director. “These measures include structural development and industry consolidation. So the euro’s arrival on January 1 does not affect our operations a great deal.”
Approx. 50% of Arla Foods’ exports are invoiced in euros with approx 33% in dollars and the remaining 17% in sterling. Half of Arla Foods’ exports, therefore, continue to be in currencies with fluctuating exchange rates.
Arla Foods is an international dairy company owned by 9,700 farmers from Denmark, Sweden, the UK, Germany, Belgium, Luxembourg and the Netherlands. Arla Foods is one of the leading players in the international dairy arena with well-known brands like Arla®, Lurpak®, Puck® and Castello®. Arla Foods is focused on providing good dairy nourishment from sustainable farming and operations and is also the world's largest manufacturer of organic dairy products.