Grain trader Louis Dreyfus slashes costs in drive to revive profit
China Oil and Food Corporation International is seen as potential bidder for a stake in the 168-year-old agricultural commodities firm
28 November 2019 - 19:04
São Paulo — Louis Dreyfus Company (LDC) is making sweeping cost cuts, starting with travel, entertainment, hiring and salaries, as the 168-year-old agricultural commodities firm tries to revive dwindling profits.
Global trade tensions and the African swine fever epidemic in Asia have piled pressure on grain trading firms as they try to emerge from a period of falling margins. Family-owned LDC, known as Dreyfus, is the “D” of the ‘ABCD’ quartet of global traders that also includes Archer Daniels Midland, Bunge and Cargill...
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