Business News

Symrise Supports Madagascar Cyclone Victims

29 Mar 2017 --- Recently, cyclone Enawo wreaked havoc in Madagascar, with the huge losses occurring in the northern region of Sava. Homes and the country’s infrastructure have been especially hard hit by the consequences. Many homes of local Symrise employees were destroyed and local vanilla farmers and villages were severely impacted. Production facilities and warehouses are intact. Symrise is giving financial as well as on site support for rebuilding efforts in the region. 

Dow-DuPont Merger Gets Conditional EU Green Light

28 Mar 2017 --- The European Commission has given the green light to the Dow and DuPont merger - but only if the companies sell off significant parts of their business to preserve competition. Dow and DuPont received conditional approval from the European Commission for the US$130bn proposed merger yesterday but there are conditions which have to be met to bypass major competition concerns.

Firmenich Breaks Ground on World-Class Flavors Plant in China

28 Mar 2017 --- Firmenich officially started the construction of its new world-class manufacturing facility dedicated to flavors in Zhangjiagang, China. The symbolic ground-breaking ceremony was attended by local dignitaries and authorities, including the Secretary of Communist Party of China of Zhang Jia Gang city. This new plant, at the cutting edge of the industry from both a technology and capacity perspective, will enable Firmenich to provide superior service to its customers across China with increased speed-to-market and operational excellence. 

ADM to Acquire Chamtor, Strengthens European Sweetener Footprint

28 Mar 2017 --- Archer Daniels Midland Company (ADM) have announced that it has been granted exclusivity in relation to the proposed purchase of Chamtor, a French producer of wheat-based sweeteners and starches. 

Coalition of Food Supply Chain Bodies Outline Joint Priorities on Trade

28 Mar 2017 --- The British Retail Consortium (BRC), the National Farmers Union of England and Wales (NFU) and the Food and Drink Federation (FDF), has issued the below joint statement to Government officials highlighting core objectives and priorities for UK trade policy.

Symrise Joins “Biodiversity in Good Company” Initiative

28 Mar 2017 --- Symrise AG has joined the “Biodiversity in Good Company” Initiative and signed the “Leadership Declaration” of the company network. The fragrance and flavor manufacturer made this announcement at the dialogue forum “Enterprise Biological Diversity 2020” hosted by the German Federal Environment Ministry and the Federal Agency for Nature Conservation in Berlin. 

Sealed Air Announces Sale of New Diversey to Bain Capital Private Equity

28 Mar 2017 --- Sealed Air Corporation (SEE) have announced it has entered into a definitive agreement to sell its Diversey Care division and the food hygiene and cleaning business within its Food Care division (together “New Diversey”) to Bain Capital Private Equity, a leading global private investment firm, for approximately $3.2 billion.

SPECIAL REPORT: Sustainable Palm Oil - Where is the Progress?

27 Mar 2017 --- The debate surrounding the sustainability of the palm oil industry is driving forward change - and that can only be a positive thing, according to the industry body, the Roundtable on Sustainable Palm Oil (RSPO). The companies involved in the palm oil supply chain have to be aware of the issues that sit side by side this industry, linked to major controversies including deforestation, habitat degradation, climate change, indigenous rights abuses including labor exploitation and cruelty to animals. This, of courses, happens in the countries where the palm oil is produced, because the land and forests must be cleared for the development of palm plantations.

Haribo to Open First US Candy Factory, With $242 Million Investment

27 Mar 2017 --- Iconic gummy bear brand Haribo, a firm favorite among US consumers for decades, is finally opening a US$242 million manufacturing operation in Wisconsin set to launch in 2020. 

Beverage Companies Commit to 100% Sustainable Juice

27 Mar 2017 --- European beverage and food companies have joined forces and formed a coalition aiming for 100% sustainable juice and puree by 2030.

Ardagh Raises US$319 million in NY Flotation With Interest from Citadel Securities

27 March 2017 --- Following the recent floatation of Irish packaging company Ardagh, Citadel Securities has invested with a 6.9% passive stake in the Group.

Record Year for Flavor Experts Frutarom with 31% Sales Surge

24 Mar 2017 --- Flavor and fine ingredients specialists Frutarom has reported its full year financial results for 2016 with sales jumping 31.4% to a record US$1.14 million and gross profit for the company increase 31.4% to US$448 million. The company says this is another record year where it has successfully implemented its rapid growth and profitable strategy.
Sales from core business of special flavors and raw materials reached US$1.07 billion.

Irish Food Board Embarks on Industry Focused “Brexit Roadshow”

24 Mar 2017 --- A dedicated team of Bord Bia food, drink and horticulture specialists will embark on a “Brexit Roadshow” over the coming weeks visiting more than 150 Irish exporters nationwide. 

Gluten-Free Seeds on the Menu for Unicorn Ingredients

23 Mar 2017 --- Unicorn Ingredients has confirmed its latest range of seeds meets growing market demand for gluten-free products as well as ongoing demand for products that are nutritionally beneficial.

ZSL Reports on the Hidden Hectares of Palm Oil Production

22 Mar 2017 --- According to the latest analysis from the Zoological Society of London (ZSL) there are large masses on land used in connection with corporate palm oil production than currently are not reported - with several global palm oil producers failing to publicly disclose their total land holdings.

ADM Opens New Flavor and Innovation Center in Sydney

22 Mar 2017 --- Archer Daniels Midland Company (ADM) have celebrated the grand opening of its new flavor creation and customer service center in North Ryde, Sydney.

Swiss Dairy Emmi Posts Near 17% Profit Boost

22 Mar 2017 --- Sales at Swiss milk processor Emmi increased 1.4% to CHF 3,259 million (US$3,282 million) in 2016, mostly down to a series of acquisitions, according to the company’s annual results.

Baijius Overtake Whiskeys to Become World’s Most Valuable Spirit Brands

22 Mar 2017 --- Every year, leading valuation and strategy consultancy Brand Finance values the brands of thousands of the world’s biggest companies. The world’s 50 most valuable spirits brands are included in the Brand Finance Spirits 50 and the top 25 beer brands in the Brand Finance Beers 25.

Environment MEPs Oppose New GM Maize Authorization

22 Mar 2017 --- Environment MEPs opposed the European Commission plans to authorize an herbicide and pest resistant genetically modified (GM) maize on Tuesday (21 Mar), in a non-binding resolution. MEPs highlight the lack of data on the many sub-combinations of the variety - all of which would also be authorized - and reiterate their call for a reform of the EU’s GMO authorization procedure.

Ornua Expands Global Footprint in Singapore with Launch of Kerrygold Cheese

22 Mar 2017 --- Ornua has expanded its footprint in South East Asia with the launch of a range of Kerrygold cheese in Singapore.