Business

06-Dec-2011 - Developing markets are to make up almost half of revenues for Kraft’s global snacks business as the spin-off business announces Irene Rosenfeld as its head.

Cargill to cut 2,000 jobs from global workforce

05-Dec-2011 - Cargill has said it will cut 2,000 employees from its global workforce over the next six months, citing a continued weak economy.

Kraft announces top execs following company split

05-Dec-2011 - Kraft Foods has appointed the CEOs and chairmen of its future global snacks and North American grocery companies, following the company's split, scheduled to be completed by the end of 2012.

FoodJobs: People on the Move

02-Dec-2011 - November was a month with several high-level executive appointments. FoodNavigator-USA brings you a photo gallery illustrating the latest big moves at major food ingredient and manufacturing firms.

Ralcorp suffers big loss in fourth quarter

01-Dec-2011 - Ralcorp has announced a $370m (€274m) loss in its fourth quarter earnings due to substantial non-cash impairment charges, details of which it has not yet disclosed.

GLG Life Tech signs Reb C supply agreement with IFF

30-Nov-2011 - GLG Life Tech has signed an exclusive five-year supply agreement with International Flavors and Fragrances (IFF) for its rebaudioside C (Reb C) stevia extract, the company has said.

P&G reaffirms commitment to Pringles sale after Diamond shares slump

28-Nov-2011 - Procter & Gamble has reaffirmed its commitment to complete the sale of global snack brand Pringles to Diamond Foods by June 2012, despite a sharp fall in Diamond’s share price last week.

CHS to acquire Israeli soy protein company Solbar for $133m

25-Nov-2011 - The United States’ biggest farmer-owned cooperative CHS Inc. has signed an agreement to acquire soy protein company Solbar for $133m, sending share prices in the Israeli company soaring.

Tate & Lyle boss: ‘We need to go where our customers are headed’

25-Nov-2011 - Tate & Lyle’s customers think it needs to step up a gear on innovation and increase its presence in emerging markets, chief executive Javed Ahmed has revealed.

GLG denies allegations, shares fall to new low

25-Nov-2011 - Stevia supplier GLG Life Tech has denied that it failed to disclose certain information required under federal securities laws, after a New York-based national law firm announced it was investigating the company’s statements to shareholders.

News in brief

DSM expands Latin American presence with two premix facilities

23-Nov-2011 - DSM Nutritional Products has opened two new premix facilities in Latin America, as the company continues to expand globally.

Special edition: Dealing with higher commodity costs

Hedging your bets: What will cost inflation look like in 2012?

23-Nov-2011 - Raise prices to offset cost inflation, and you can expect to take a volume hit. But if all your rivals are ratcheting up prices too, at least you’re all in the same boat, right?

Campbell Soup beats estimate, but profit falls

22-Nov-2011 - Campbell Soup Company has reported a 5% drop in net earnings in the first quarter as soup demand continues to fall in the United States, although the company is beginning to see the first fruits of a turnaround program.

Special edition: Dealing with higher commodity costs

Weathering the commodity price storm: Winners and losers

22-Nov-2011 - “I’m not sure I can give you a prediction on 2012 that will really mean anything”, responded Coca-Cola’s chief financial officer Gary Fayard when asked by an analyst for some ‘color’ on the 2012 outlook for commodity prices last month.

Heinz: New products will target low income shoppers

21-Nov-2011 - Heinz has unveiled a series of new products with lower entry price points to target households with incomes of less than $50,000-a-year.

Big interview: Leonard Fuld, founder and president, Fuld & Company

What does a world class competitive intelligence strategy look like?

17-Nov-2011 - “War games are about anticipating competitive moves before your rivals make them,” competitive intelligence guru Leonard Fuld tells Elaine Watson. Step one: know your enemy. Step two: prepare for battle …

BioExx seeks partner as new boss signals change in strategy

16-Nov-2011 - BioExx has signaled a change in strategy after admitting its decision to manufacture its own canola proteins - rather than license its technology and let others make them – may not have been the right one.

PepsiCo shares soar following $150m Peltz investment – and rumors of a potential split

16-Nov-2011 - Shares in PepsiCo have been climbing after influential investor Nelson Peltz revealed on Tuesday that his hedge fund Trian Management had bought 2.36m shares in the company, worth $150m or about 0.15% of its total value.

Toucan play that game: Kellogg backtracks in image dispute with Mayan group

16-Nov-2011 - Kellogg Company has dropped threats of legal action against a Mayan cultural heritage group that uses a Toucan as its logo.

Big Interview: Kevin Murray, founder, Murray Associates (eavesdropping detection and counterespionage services)

The tip of the spyberg… Is your boardroom bugged?

15-Nov-2011 - How do you find out what your arch rival is up to before it launches a new product so revolutionary it could kill off your business? And how fine is the line between legitimate competitive intelligence gathering and spying? Elaine Watson delves into the murky world of corporate espionage.

Stevia aftertaste problems contribute to plummeting GLG sales

15-Nov-2011 - Stevia supplier GLG Life Tech saw sales plummet 92% in the third quarter, after end customers complained about aftertaste problems when formulating with the sweetener, the company said.

Cargill launches pan-European roll-out of Truvia as EC gives stevia the green light

11-Nov-2011 - Cargill has embarked on a pan-European roll-out of its stevia-based sweetener Truvia after the European Commission finally issued the green light for the sale of steviol glycosides in Europe from November 11.

Puratos invests €30m on production site to capitalise on US sales growth

10-Nov-2011 - Bakery ingredients firm Puratos has announced that it will renovate and expand its manufacturing facility in Pennsauken, New Jersey to seize upon growing US sales.

News in brief

PepsiCo snaps up Brazilian snack maker Mabel

10-Nov-2011 - PepsiCo has boosted its presence in Brazil via the acquisition of Mabel, a leading producer of cookies, crackers and snacks – for an undisclosed sum.

High corn costs continue to hit MGPI

10-Nov-2011 - MGP Ingredients has reported a net loss of $5.5m in the first quarter, which the company said was a result of some of the same factors that hit the company in the previous quarter, including high corn costs.