Over the next three years the food business plans to expand its flexible packaging, filing and closing technology and extend its mixing and blending products to other segments.
Water sterilization tech
The firm also wants to explore alternative sterilization technology in new segments including water, prepared foods and pharma.
The announcement was made in a corporate video launched this month and JBT Corporation will report its Third Quarter 2017 earnings on October 24, 2017.
Carlos Saavedra, global marketing manager, JBT Liquid Foods, said it will grow the liquid foods business through the development and acquisition of complementary companies and technologies, focusing on 'green box' technologies (products that influence who becomes the supplier of choice for broader, integrated technology).
The video explains JBT Liquid Foods will focus on three strategic imperatives: Fortify the Core, Expand the Franchise and Explore the Edges.
“JBT will fortify its core businesses by continuing investments in citrus processing, aseptic processing and in-container sterilization,” he said.
“It will grow areas such as flexible packaging, filling and seaming in attractive segments, while continuing to increase its presence in regional markets.
“JBT will further explore the edges by investigating alternative sterilization and extended shelf life technologies, while moving into new sectors such as water, prepared foods and pharma.”
The strategy is already being implemented as seen by the acquisition of Avure Technologies in February and PLF International in July.
JBT Liquid Foods operates 10 manufacturing sites and eight Technology Centers worldwide, and has nearly 2,000 employees who generate approximately $500m in revenue.
The business currently processes fruits and vegetables, and provides technology for filling, closing and sterilizing juices, soups, baby food and dairy.
“With the acquisition of ICS Solutions, Stork Food and Dairy Systems, A&B Process Systems and, most recently, PLF International, JBT Liquid Foods has added significant capabilities in sterilization; dairy and juice processing; and customized, skidded systems that can be used in pharma and the energy sector,” said Saavedra.
“However, the Liquid Foods business is not resting on its laurels, but instead is moving forward with an aggressive growth strategy by striving to become the world’s most-valued supplier of preservation, processing and packaging.”