CSM to Merge Two North American Operating Companies

The combination of Caravan Products (Totowa, New Jersey) and American Ingredients Company (Kansas City, Missouri) will result in savings and "an even more focused and competitive company."

03/05/06 CSM Bakery Supplies North America is merging Caravan Products (Totowa, New Jersey) and American Ingredients Company (Kansas City, Missouri) into a single operating company. CSM said that both organizations are very successful and that the combination of the two will result in savings and an even more focused and competitive company.

The new company will be headquartered in Kansas City, Missouri where currently AIC resides. The Caravan and AIC sales organizations will not be affected, nor will the Caravan Product Development Group, which will remain with the Totowa, NJ plant.

Approximately 30 positions and individuals will be affected by redundancies and the relocation of responsibilities. This measure is in line with previous announcements regarding the reinforcement of CSM’s market positions and organizations and is part of CSM’s worldwide restructuring programme. The programme has already led to many restructuring measures including, so far in 2006, reorganizations in North America and Europe (the Netherlands, France, Germany and the UK).

CSM expects the reorganization to be completed in quarter 4 2006.