Parmalat SpA is an Italian multinational dairy and food corporation. Having become the leading global company in the production of long-life milk using ultra-high-temperature processing, the company collapsed in 2003 with a €14bn ($20bn; £13bn) hole in its accounts in what remains Europe's biggest bankruptcy. Since 2011, it has been a subsidiary of French group Lactalis. Today, Parmalat is a company with a global presence, having operations in Europe, North America, South America, Australia, China, and South Africa. - Source: Wikipedia
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