Echuca-based Cedenco, the largest tomato processing facility in Australasia, has been placed into receivership.

Cedenco processes up to 2000 tonnes of tomatoes a day and employs nearly 200 people during the peak processing season.

It will offered for sale as a going concern.

Appointed receiver and manager of Cedenco Australia, Craig Shepard of KordaMentha, said business would continue to trade as usual for the 2010 season.

"The secured creditor recognised the importance of Cedenco Australia to the local economy and would provide funding to operate normally through the peak processing season which begins in January,"Mr Shepard said.

"The receivers are working with a strong management team and are assuring current employees, the large seasonal workforce, customers and suppliers that it is business as usual.

"The receivership will preserve the business and allow it to trade on a business-as-usual basis," he said.

Cedenco was placed into receivership after a breakdown in governance and ownership issues in the related New Zealand entity.

Cedenco food companies in New Zealand have also been placed into receivership and will continue to trade, pending the sale of the business.

Cedenco is on track to produce 230 000 tonnes of tomatoes this year.

Its main products are tomato paste and diced and peeled tomatoes for both the international and domestic markets.