Business News

Hershey sweetens Q2 results with snacking innovations and cost cutting

27 Jul 2017 --- The Hershey Company has announced sales and earnings for the second quarter ended July 2, 2017, with net sales of US$1,663.0 million compared with US$1,637.7 million for the second quarter of 2016 and net income up 39 percent to US$203.5 million.

Montana Specialty Mills breaks ground on US$20m processing facility

27 Jul 2017 --- Montana Specialty Mills, LLC has announced it is breaking ground on its new US$20 million, 20-acre processing center at the Great Falls Montana Development Authority's AgriTech Park.

Tate & Lyle reports “encouraging” start to the year, maintains guidance

27 Jul 2017 --- Tate & Lyle has made an encouraging start to the year with profit in constant currency ahead of the comparative period, and volume ahead in both divisions. The statement covers the first quarter of the financial year, from April 1, 2017 to June 30, 2017. The company added that it expected to make underlying progress in the full year ended March 31, 2018.

Nestle sales growth lags in first half, maintains 2017 guidance

27 Jul 2017 --- Nestlé has posted weaker-than-expected first half earnings and confirmed its full-year guidance as the world's biggest food company even as sales slipped in the face of currency headwinds. Nestlé reported that half-year total reported sales were CHF 43.0 billion (-0.3 percent) (US$45 billion), reflecting the impact of net divestments (-2.3 percent, largely related to the creation of the Froneri joint venture) and foreign exchange (-0.3 percent). Organic growth was below expectations at 2.3 percent. RIG was resilient at 1.4 percent but pricing remained soft at 0.9 percent.

Niels appointed as new DSM Food Specialties President

27 Jul 2017 --- Royal DSM has announced the appointment of Patrick Niels, new President of DSM Food Specialties as of 1 August 2017.

Nestle explores strategic business options as it implements value creation model

26 Jul 2017 --- Nestlé has announced another step forward in the implementation of its comprehensive value creation model. Early in 2017, the company’s management, together with the Nestlé Board of Directors, initiated a comprehensive review of the company’s capital structure and priorities to support and enhance its ability to deliver on its value creation model.

Agrana Fruit to strengthen Chinese presence with second plant

26 Jul 2017 --- Agrana Fruit, part of the Agrana Group, has signed an investment contract for the construction of a new fruit processing plant in China. Agrana Fruit, which has already been operating one factory in Dachang, is now expanding its business activities in the region, by building a second plant in South Eastern China, around 180 km away from Shanghai. 

Kreglinger appointed as a Mediterranean Umami distributor

26 Jul 2017 --- Salt of the Earth Ltd. has appointed Kreglinger Specialties as its exclusive distributor for Mediterranean Umami. Kreglinger will be responsible for the UK, Ireland, Belgium, The Netherlands, Luxemburg and France. Mediterranean Umami, a winner of IFT17 Food Expo Innovation Award, is an on-trend all natural sodium-reduction solution for the food industry.

Galactic expands production capacity for calcium lactate pentahydrate

25 Jul 2017 --- Galactic, one of the world leaders in natural solutions for food safety and nutrition, announces it has successfully launched a second production line for calcium lactate pentahydrate production at its Escanaffles plant (Belgium). 

AAK pays tribute to CEO Arne Frank following his sudden death

25 Jul 2017 --- The CEO and president of Swedish vegetable oil refiners AAK Arne Frank has sadly lost his fight with cancer. 

Singapore enters food partnership with South Australia

25 Jul 2017 --- A food industry collaboration between Singapore and South Australia has been signed to improve access to clean, green produce from Down Under and boost food innovation technologies in both regions.

Azelis strengthens position in Australia & New Zealand with acquisition of Chemcolour

25 Jul 2017 --- Azelis has announced the full acquisition Chemcolour, specialty chemicals and food ingredients provider in Australia and New Zealand (ANZ). The company employs a highly knowledgeable team of 90 people, who will all transfer to Azelis. The acquisition, which will be closed in the next few months will strengthen and position Azelis among the top distributors in ANZ.

Refresco set to buy Cott's bottling activities for US$1.25bn

25 Jul 2017 --- Dutch-based drinks bottler Refresco has announced that it has agreed to buy the bottling activities of Canadian company Cott Corp (BCB.TO) for US$1.25 billion, in a move that will increase its capacity in the US.

CSM Bakery Solutions sells BakeMark unit to Pamplona

24 Jul 2017 --- CSM Bakery Solutions has reached an agreement for the sale of its BakeMark business to Pamplona Capital Management, but terms of the deal are not being disclosed. The agreed deal is an important step in advancing CSM's strategy to focus on its core business in Europe and North America, according to company President and CEO, Marianne Kirkegaard.

New product highs for hemp – the market potential

24 Jul 2017 --- With new product innovation surging, highly nutritious hemp in its various forms, is an ingredient on a health mission with widespread applications. According to research from Innova Market Insights, hemp claims have climbed up 42 percent CAGR for NPD (Global, 2011-2016). 

Irrigation improvement key to achieving UN Sustainable Development Goals

24 Jul 2017 --- Water use for food production today largely occurs on the expense of ecosystems. About 40 percent of the water used for irrigation are unsustainable withdrawals that violate so-called environmental flows of rivers, a new study shows for the first time. If these volumes were to be re-allocated to the ecosystems, crop yields would drop by at least 10% on half of all irrigated land, especially in Central and South Asia. 

EU, Canada, and US battle for China’s pork market, claims Rabobank

24 Jul 2017 --- Global pork trade is facing new dynamics, driven by price developments, new trade deals, and more challenging business environments, according to RaboResearch’s latest Global Pork Quarterly. “While China’s pork imports have begun to slow down, other traditional importing countries have reported significant growth,” says Chenjun Pan, RaboResearch Senior Analyst – Animal Protein. 

Roquette reinforces leadership in pea protein

24 Jul 2017 --- Roquette recently announced a significant investment of €40 million (US$46.7 million) in its Vic-sur-Aisne facility in order to increase its yellow pea processing capacity and respond to a fast-growing global demand for pea protein. The expansion represents the second investment on pea protein that Roquette makes this year, after its announcement in January of a €300 million brand new site in Manitoba (Canada).

Brexit: Trade bodies join forces to outline key priorities

21 Jul 2017 --- At the end of the second round of Brexit talks, there hasn’t been too much in the way of clarification with several stumbling blocks still on the table. As European Union negotiator Michel Barnier and British politician David Davis have faced each other over several days this week, there is still no real progress being made with the next round of discussions planned for the fall. 

Bell announces new Malaysia location

21 Jul 2017 --- Bell Flavors and Fragrances has announced the launch of Bell Flavors & Fragrances Malaysia Sdn Bhd. As part of Bell’s international family, the Malaysia location will continue Bell’s focus on helping companies in the Asia Pacific region by utilizing their technology, analytical innovations, sales and marketing resources.