Business News

Tate & Lyle Profits Jump 85 Percent

25 May 2017 --- Profits at UK food ingredients maker Tate & Lyle have jumped 85 percent in the last financial year bolstered by a weaker British currency and a strong company performance.

High Sugar Prices Sweetened Nordzucker Profits

25 May 2017 --- Leading European sugar maker Nordzucker closed the 2016/17 financial year with net income of €99 million (US$111 million) with the increased sales and improved prices for sugar contributing factors to the strong performance.

Brexit: Food Manufacturing Labor Crisis Looms as Sector Squeezed by Shortages, Warns New Report

24 May 2017 --- A new report examining the serious pressure the UK’s food manufacturing sector will be under if the labor supply of European Union migrants dries up after Brexit, urges that safeguards be put in place now to stave off a worsening of the crisis. The sector, already squeezed by shortages, will worsen, and will need to recruit up to 140,000 new workers by 2024, according to the new briefing paper co-produced by Manchester Metropolitan University for the Food Research Collaboration, an initiative of the Centre for Food Policy at City, University of London.

Frutarom Report Record Quarter, Bolstered by Sales in Specialty Ingredients

24 May 2017 --- Frutarom Industries Ltd one of the world's 10 largest companies in the field of flavors and specialty fine ingredients, reports another record-breaking quarter in sales, profits, cash flows from operating activities and in earnings per share.

Bunge “Not Engaging” in Talks with Glencore

24 May 2017 --- US grains trader Bunge Ltd says that it is not in talks with Anglo-Swiss multinational Glencore which has claimed to have made an “informal” approach sparking possible takeover speculation.

Algaia and AIDP Announce Partnership, Strengthening Position in North American Market

23 May 2017 --- Algaia, S.A., and AIDP, Inc. have announced their entry into a distribution partnership to market Algaia’s alginates and other specialty marine-based solutions to customers in Canada, USA and Mexico. This distribution partnership begins on June 1st 2017. The arrangement was finalized at Vitafoods, in Geneva, where several companies of Algaia’s main shareholders, Maabarot Products Ltd and Demeter presented.

Greencore Deal With Peacock Boosts Q1 Profit

23 May 2017 --- Convenience food group Greencore has reported a 46% increase in revenue in the first quarter, hot on the heels of the acquisition of US convenience food manufacturing partner Peacock last December. 

Orkla Signs Agreement with Renaissance BioScience Corp. for Acrylamide-Reducing Yeast Technology

23 May 2017 --- Orkla Food Ingredients, a business area of Orkla ASA has signed a licence agreement with Renaissance BioScience Corp. to exclusively produce and sell Renaissance acrylamide-reducing yeast to food manufacturers in the European Nordic and Baltic markets, starting in third quarter 2017.

Dow Highlights Progress in 2016 Sustainability Report

23 May 2017 --- The Dow Chemical Company (DOW) have released its 2016 Sustainability Report, laying a solid foundation with strong first-year results since announcing its 2025 Sustainability Goals. 

DSM: Turbulence in Chinese Vitamin C Markets

22 May 2017 --- Since 2016, the price of vitamin C has increased steadily for several reasons. Factories in China that produce vitamin C and taurine are seriously considering price increases. From the beginning of 2016, prices of these products began to increase, followed by many other ingredients; starting in Q4, prices began to increase substantially. Vitamin C factories are underfunded due to the low price in recent years, resulting in a strong desire to raise prices. 

Tate & Lyle Expands Portfolio of Texturants With 17 Non-GMO Starches

19 May 2017 --- Tate & Lyle PLC have introduced 17 new non-GMO starches with the same functionality as their traditional counterparts. This is part of an ongoing program of non-GMO ingredient expansions across Tate & Lyle’s texturants, fiber enrichment and sugar and calorie reduction portfolios.

Firmenich Honored for Ethical Heritage and Corporate Responsibility

19 May 2017 --- Leaders in fragrance and flavors swiss-based Firmenich has been recognized for its ethical approach to business as well as being considered a top achiever that advances social and environmental best practice.

Dairy Industry Welcomes Action by USTR Lighthizer to Launch NAFTA Modernization Efforts

19 May 2017 --- The US dairy industry commended Robert Lighthizer, the newly confirmed US Trade Representative, for taking swift action under the Bipartisan Congressional Trade Priorities and Accountability Act (TPA) to begin the process for modernizing the North American Free Trade Agreement (NAFTA).

Whitworths Completes Merger with Fruit and Nut Wholesaler Anatolia

19 May 2017 --- Whitworths and Anatolia have announced the merging of both companies to form one of Europe’s largest dried fruit, nut and seeds businesses. 

Nestle UK & Ireland Appoint New CEO

18 May 2017 --- Chairman & Chief Executive Officer of Nestlé UK & Ireland, Dame Fiona Kendrick has decided to stand down as the CEO of the UK & Ireland market but will continue to serve as Chairman providing strategic support to the Company. 

Barry Callebaut Strengthens Sustainable Chocolate Pledge by Rolling Out Traceability App to Indonesian Cocoa Farmers

17 May 2017 --- The world’s leading manufacturer of high-quality cocoa and chocolate Barry Callebaut is helping cocoa farmers in Indonesia to improve their sustainable farming practices and prosper through specialist training in agricultural practices and improving traceability by introducing teams of “field facilitators”. And on top of this, a new app designed to improve data collection and traceability is being rolled out in Indonesia.

Nestle Adds New Dubai Factory to Strengthen Middle East Presence

17 May 2017 --- Nestlé Middle East has inaugurated its 18th factory in the Dubai region with a 530 million Dirhams (US$144 million) investment to keep pace with growing demand from GCC and Levant markets.

UK: Sustain Calls For New Routes to Market for Growers Monopolized by Big Retailers

17 May 2017 --- A new initiative that aims to make it easier for consumers to choose better food and support farmers has been launched - The Better Food Traders network has been formed to support sustainable alternatives and challenge the dominance of the UK’s big retailers.

Arla Launches State-of-the-Art Beacon of Innovation

16 May 2017 --- A new state-of-the-art global innovation center is officially opening today in Denmark as dairy farming cooperative Arla Foods’ celebrates its pioneering investment. Built in the heart of one of the world’s fastest growing food clusters in Aarhus, Arla’s new innovation center promises to be the birthplace of future trends, technologies and products that will shape the worldwide dairy category, as well as a collaboration hub for chefs, scientists, consumers and customers.

Orkla Expands in Denmark, Company Purchase 80 Percent Shares in SR Food

16 May 2017 --- Orkla Food Ingredients, through its partially owned subsidiary Dragsbæk A/S, has signed and carried out an agreement to purchase 80% of the shares of SR Food A/S (“SR Food”), the Danish sales and distribution company.