July 6, 2007

Brazilian food company Sadia gets Sarbanes-Oxley certification
 

Brazilian food company Sadia SA (SDA) has received Sarbanes-Oxley certification, the company said Thursday (Jul 5).

Sarbanes-Oxley compliance is mandatory for all companies listed on US stock exchanges. It requires that companies follow strict corporate accounting practices.

"This adjustment brings to the company and its shareholders effective gains, as well as internal control mechanisms, risk mitigation and consequently market valuation," said Welson Teixeira, the company's investment relations director.

At about 12:10 pm EDT, Sadia's American Depositary Receipts were trading up 0.05 percent at US$48.23.

Sadia is Brazil's no. 1 chicken exporter and Brazil is the world's leading chicken exporting nation.

The Sarbanes-Oxley Act started in July 2002 and is named after former US senator Paul Sarbanes, and former republican Michael Oxley, who were its main architects.