Agribusiness giant Archer Daniels Midland Co. said on Wednesday
earnings in its fiscal second quarter rose 20 per cent as improved
oilseed crushing margins amid tightening industry capacity helped
lift results.
Snow Brand Food Co Ltd said on Wednesday it falsely claimed 13.8
tonnes of Australian beef was Japanese when it made a 280-tonne
sale to a government-subsidised industry group.
US food company Quaker Oats Company and Biosafe Medical
Technologies, Inc. this week announced a new partnership to help
consumers reduce their cholesterol.
Australian food giant Goodman Fielder plans to sell its
Invercargill food ingredients export business to an
Australian-owned company, writes the New Zealand Herald this week.
Ingredients company DSM has signed an agreement with enzyme
producer Novozymes, thereby settling a number of lawsuits filed in
several countries, relating to the infringement and validity of
phytase patents owned by DSM.
Antitrust enforcers at the U.S. Federal Trade Commission will go to
court to block the acquisition of Leiner Davis Gelatin Corp. and
Goodman Fielder USA Inc. by Germany's Deutsche Gelatine-Fabriken
Stoess AG, the agency said...
Industry reports of leading Ivory Coast cocoa exporter Archer
Daniels Midland (ADM) cutting capacity at its processing plant
there were taken stride Wednesday as analysts said it was just the
result of an industry trend that made...
Japan's largest maker of ketchup, Kagome Co Ltd, said on Thursday
it was postponing the acquisition of a controlling stake in the
Japanese unit of U.S. food firm H.J. Heinz Co.
Food ingredients company DSM announced this week that as of January
1 2002 John McLaren is the Vice President of Corporate
Communications at DSM. McLaren is now responsible for the total
communications policy of DSM.
US polymer producer FMC BioPolymer announced this week that it has
acquired Norway-based Pronova Biomedical AS, a supplier of
ultra-pure alginates and chitosans to the pharmaceutical and
medical materials markets, from a subsidiary...
Thailand's Charoen Pokphand Foods said on Wednesday it would invest
a total of 265 million baht (€6.86 m) to create three new
subsidiaries in China and Belgium in the first quarter of 2002.
US food and beverage company Kraft Foods Inc. announced this week
that it has acquired Australian biscuit producer, Lanes Food Group.
Several Nabisco brands have been licensed to Lanes in Australia
since 1991.
The French market for organic dairy products is to show accelerated
growth in the coming years as dairies raise production levels,
according to a new report from market research group Organic
Monitor.
The United States market for functional foods and beverages is
currently worth more than $11 billion (€12.33bn) but trying to
establish the size of markets for health-enhancing foods can be a
gamble, claims a new report from UK research...
French industrial output remained flat in November after hefty
drops in the preceding two months, while manufacturing output
continued to slide, but by a gentler 0.3 per cent, French
statistics office INSEE said on Tuesday.
U.S. farm income will drop by almost 20 per cent this year compared
with 2001 due to large reductions in government assistance and
higher production costs, the Agriculture Department forecast last
week.
Several leading soft drinks players, including global giants
Coca-Cola and PepsiCo, have expressed an interest in buying US
group Nantucket Nectars, the latest niche player to draw the
attention of the major carbonate manufacturers.
German chemicals company Degussa AG has completed most of an
ambitious disposal program after agreeing to a €265 million sale of
its gelatin business, SKW Gelatin & Specialties, to Sobel NV of
the Netherlands.
The Ross Products Division of Abbott Laboratories has announced
plans to launch an infant formula supplemented with two fatty acids
that function as nutritional building blocks in brain and eye
development.
A group of Canadian organic farmers launched a lawsuit against
biotech giants Monsanto Co. and Aventis SA on Thursday seeking
compensation for damages caused by genetically modified canola they
say is blowing into their fields.
AOL Time Warner, the world's largest advertiser, today announced a
multi-million dollar enhanced cross-platform advertising and
marketing partnership with Unilever
Organic food promoter the Soil Association has refuted claims made
in a recent survey by Mintel that consumers are becoming
increasingly cynical about the safety of organic food
The Juice & Smoothie Association (JASA) claims that the US
market for health-related juices and smoothies could soon hit the
$1 billion mark, according to a report in the New Nutrition
Business newsletter.
British food retailer Iceland Group Plc warned on Wednesday it
would miss its target of flat full-year sales after a sharp drop in
its frozen food business over the Christmas period, pushing its
shares down
Kraft Foods Inc., a global leader in branded foods and beverages,
has reshuffled its senior management by naming Frank Meegan, 53,
Senior vice President, and Alene M. Korby, 47, Senior Vice
President Procurement and Integrated Supply...
Opta Food Ingredients today announced a restructuring program that
is designed to reduce the company's overall cost structure by
approximately $1 million annually.
Archer Daniels Midland Co. said on Tuesday it had been awarded a
patent covering certain plant-derived health foods known as
nutraceuticals that will speed up its growth in the sector
Kerry, the global ingredients, flavours and consumer foods Group,
today announced the acquisition of Aromont S.A. headquartered in
Montcornet, France and the proposed acquisition of Stearns &
Lehman Inc., headquartered in Mansfield,...
Diversa Corp. and Givaudan Flavors Corporation today announced that
they have entered into an agreement to discover and develop novel
enzymes and processes for the cost-effective production of new
products for consumer applications
Penford Corporation announced today that it will strategically
restructure business operations to strengthen the Company's
position as a market leader in delivering
technically-differentiated, specialty ingredients to the food,...
Brazilian imports of Argentine wheat have ground to a halt but
millers have sufficient stocks until the end of January, grain
analysts and industry sources said Thursday.
To satisfy growing demand, both internationally and in the United
States, the production of Danisco antioxidants recently began in
St. Louis, Missouri.
The Philippine government is close to approving Kirin Brewery's
planned investment in San Miguel after assurances that the deal
would not weaken the country's equity position in its biggest food
and beverage company
The European Commission said on Wednesday it had extended its
review of U.S. agribusiness giant Cargill's planned purchase of a
unit of Italy's agro-energy conglomerate Montedison
Cargill has sold 55,000 tonnes of Thai raw sugar to Russia, the
world's top sugar importer, for January shipment at undisclosed
prices, trade sources told Reuters on Thursday.
Philippine conglomerate RFM Corporation on Thursday completed the
sale of soft drink unit Cosmos Bottling Corp to a San Miguel Corp
joint venture through a series of transactions in the share market,
an RFM spokesman said.
ConAgra Foods' recent move to separate financial results of its
branded foods from agricultural businesses might be more than a
bookkeeping shuffle, and could prepare the ground for an eventual
spinoff or sale of the company's...
Russia's leading dairy products and fruit juices company is set to
launch an initial public offering on the New York Stock Exchange in
the next few weeks.
Shares of ImClone Systems Inc. fell nearly 16 percent on Monday
after regulators said they would not accept the biotechnology
company's application to sell its eagerly awaited colon cancer
drug, Erbitux.
Fast food chain Burger King announced yesterday it was to create
1,250 jobs next year, by opening 35 restaurants, bringing the total
number of UK outlets up to 720.
French dairy giant Group Danone is reviving its plans for India. It
has now proposed to convert its proposed 80 per cent subsidiary
into a 100 per cent company, and capitalise it to Rs 150 crore over
five years instead of the original...