Norwegian CLA company Natural has seen profits fall considerably in
this year's second quarter after a major boost to revenue from new
licensing agreements last year.
Parmalat, the Italian dairy company which has been in the hands of
the administrators since collapsing with massive debts last year -
has continued to take legal action against a number of leading
financial institutions in a bid to...
Dairy products remain an important growth driver for Swiss food and
beverages group Nestlé, despite the disposal of a number of assets
and poor weather conditions which affected sales during the first
half. But organic growth was...
Ambitious Israeli flavours firm Frutarom has bought the European
natural fruit preparations business from the world's number two
flavours player just months after completing on the Swiss botanical
extracts firm Emil Flachsmann.
After a recent acquisition, new product launches and nomination as
one of the fastest growing small companies in the US, Lifeway Foods
has ended its second quarter on a high, reporting record revenues
for its functional kefirs.
Family-owned US firm JM Huber has become the number one pectin,
xanthan gum and CMC supplier after yesterday agreeing to buy
leading hydrocolloid firm CP Kelco from merchant bank Lehman
Brothers, reports Lindsey Partos.
Danish ingredients firm Chr Hansen has benefited from the growing
demand by food makers for natural colours. Higher sales of natural
colours helped to lift profit figures in a third quarter that also
gained from the increasing popularity...
From this month, German milk will be available at Danish retailer
Dansk Supermarked's stores, a move that could affect milk prices
and production across Europe.
Management at the Royal Schouten group, parent of soy ingredients
business Acatris, has increased its share in the company under a
new shareholder structure designed to allow it to move more easily
on strategic developments, such...
Nestle Cesko has announced a small profit for 2003, following a
loss in 2002 which was caused by a summer of heavy flooding that
led to extensive damage to the company's operations.
The acquisition of Rhodia Food Ingredients by Danisco has finally
been completed today, bringing the Danish ingredients group one
step closer towards its goal of becoming a leading supplier of
ingredients to the food industry. The...
Italian dairy group Parmalat has announced its gross operating
profit for the first four months of the year has steadied, as a
government-appointed administrator prepares to meet creditors next
week in an attempt to ward off liquidation.
Parmalat, the financially ruined dairy group, may be forced to hang
on to its US subsidiaries if it does not receive a suitable bid for
its operations. It was reported today that the company is
considering a "stand alone"...
Northern Foods, the UK convenience food group, has announced today
its plans to sell its dairy division to compatriot Uniq. The
Minsterley fresh dairy products business has struggled financially
in past years, especially after the...
Ongoing growth in cultures sales to the dairy industry and health
markets helped the Danish ingredients firm Chr Hansen post a modest
rise in revenue for the food ingredients division in the first six
months. Organic growth for the...
Parmalat Hungaria, the Hungarian arm of the disgraced Italian dairy
group, will receive a HF500m loan from the Hungarian government to
help the plant reach a higher level of output and, in turn, clear
its debts. The site is currently...
Dairygold, the troubled UK co-op, plans to make major cut backs in
its core dairy division which will result in an estimated 300 job
losses. The group said that restructuring an is essential move if
it is to avoid making losses in...
Dean Foods, the US dairy giant, may be planning a Spanish dairy
acquisition. It has been reported that the company is looking to
begin production in southern Europe.
Nestlé, the world's largest food group, has reported underlying
growth of 5.1 per cent for the first quarter of 2004, helped by a
strong performance from its added value dairy business, where sales
were some 7.6 per cent ahead....
Dairy giant Danone posted a sharp increase in like-for-like
revenues for the first quarter of 2004, boosted in particular by
strong sales of 'healthy' dairy products such as its probiotic
range. Like all European dairy companies...
Campina, the international dairy company, is to acquire the Thai
dairy activities of disgraced Italian group Parmalat. Campina said
that the move was in line with its strategy to exploit the Asian
dairy market, and the fallen giant's...
Parmalat, the financially-hit dairy group, has resumed control of
its Brazilain unit this week. Last month the group announced that
it is to sell around half of its assets as part of its
restructuring programme, however, it is unclear...
Almost half of Parmalat's assets across the globe will be slashed
in an effort to swap debt for equity. The company which is one of
Italy's most global companies announced on Friday its restructuring
plan designed to keep...
Moves into higher added-value are likely to pay off in the long
term for Irish dairy group Glanbia, but the company is continuing
to suffer from the short-term effects of offloading a number of
primary food operations.
Parmalat, the financially troubled dairy group, has requested the
help of the turnaround company that recovered Enron's finances last
year - Kroll. The company plans to recover Parmalat's assets, and
the move justifies Parmalat's...
Milk Link the UK's fourth largest integrated dairy business, has
this week announced that it is to continue its trend of acquiring
units by buying Peninsula Milk Processors.
Parmalat's financial problems have forced many of its foreign
business into the red. An Irish unit has this week been declared
insolvent, the US has filed for bankruptcy, but the Mexican arm has
been given the clear to restart...
Driving hard into value added ingredients has paid off for Irish
food group Kerry as the company faces off tougher currency exposure
in 2003 to see a steady rise in sales and operating profit.
European bottom line benefits from greater...
Milk Link and Glanbia plan to embark upon a new business venture in
an effort to exploit the UK cheese market. The new formation will
be 75 per cent owned by Milk Link and 25 per cent owned by the
Glanbia.
Two French and one UK Parmalat unit have been sold to competitors
this week. After much speculation over the the stability of the
company's units outside Italy it appears that if the company is to
survive it will have to focus...
Rumours of a possible sale of the Danone's biscuit business
surfaced again this week after the company unveiled full year
figures pegged back by its weak performance. But the core dairy and
beverage businesses continued to go...
Bongrain, the
French cheese maker best known for brands such as Coeur de Lion and
Tartare, ended 2003 with a slight increase in sales compared to the
previous year, but continued to suffer at the hands of negative
exchange...
Ingredients giant Danisco leapfrogs into the second global position
for cultures as the Danish firm acquires the food ingredients arm
of ailing French chemical business Rhodia.
Express Milk partnership may build a stake in its partner company
Arla Foods. The group announced on Wednesday that a stake in the
company could give the company an advantage in the market place.
Parmalat representatives from across Europe will meet today to
discuss the measures that the new management will take to help its
distressed units. Trade union leaders in Hungary claim that the
Eastern European country's unit...
UK milk producer Southern Milk co-operative has announced that is
to disband as a result of increasing competition pressure from the
recently formed Arla Foods UK. The move could leave its 55 member's
future in danger.
Italian food group Parmalat said on Monday that it had a net debt
of €14.3 billion ($17.6 billion) in September 2003, almost eight
times the figure given by former managers of the troubled group.
After conducting an internal review, Tetra Pak has categorically
stated that all payments made to disgraced Italian dairy giant
Parmalat were made directly to local Parmalat companies.
There is a defining issue for dairy giant Parmalat that has
virtually nothing to do with fraud. If it lives to trade another
day, it will be because it hung on to its suppliers.
Danone, the French dairy product, bottled water and biscuits group,
may have said that it is not interested in acquiring any assets of
bankrupt Italian group Parmalat, but this does not mean that it is
not on the acquisition trail.
The emergency decree passed late last month by the Italian
government in a bid to save dairy giant Parmalat from collapse
looks set to win support from the European Commission on the back
of guarantees that there will be no state...
Tetra Pak has launched an internal enquiry following claims by a
former Parmalat executive that the world's largest packaging group
made payments directly to the accounts of Parmalat's owners, the
Tanzi family.
As the scandal surrounding Italy's food and giant Parmalat deepens,
Berlusconi's government rustles up emergency measures to tackle
'Europe's Enron', with a strategy to save jobs and pay the
suppliers.
In a bid to reinforce customer relations in Latin America, the
dairy ingredients business unit of DSM Food Specialties' has
expanded its presence in Latin America with the opening of a new
sales and customer services office in...
Things just keep going from bad to worse for Parmalat. Just a week
after it escaped defaulting on a bond repayment by the skin of its
teeth, and with barely enough time for new chairman and turnaround
expert Enrico Bondi to warm his...
Lactimilk, the subsidiary of Spanish group Ebro Puleva which
produces the Leyma, Ram and El Castillo brands, is to invest
between €36 and €45 million over the next three years in
relaunching all three brands.
