Bidco Africa wins top most award at Energy Management Awards ceremony

KENYA– Agribusiness and manufacturing giant Bidco Africa has been declared the overall winner of the coveted Energy Management Award at the awards ceremony held in Nairobi, Kenya. The awards, themed ‘Setting the pace in resource efficiency towards competitive local manufacturing’, awarded over 20 companies that have achieved significant reductions in their energy consumption through implementation…

Zambeef completes majority stake sale of Zampalm to IDC

ZAMBIA - Zambeef Products Plc has announced that it has completed the sale of its majority stake in its wholly owned subsidiary and oil producer, Zampalm Ltd to the Industrial Development Corporation of Zambia Limited (IDC) for US$16 million in cash. Zampalm Ltd was incorporated in 2009, has some 409,506 palms planted on its plantation, supplies…

United Refineries diversifies with new range of vegetable juice

ZIMBABWE - United Refineries Limited (URL), innovative producer of brands in personal care, hygiene and value added agro-products categories has diversified its operations into a new range of vegetable juice. The Bulawayo-based manufacturer is a subsidiary of Grindrod Limited and produces fast moving consumer goods, such as cooking oils, soap, stock feed and salad cream,…

Olivine to invest US$5m in margarine plants

ZIMBABWE - Fast moving consumer goods manufacturer Olivine Industries will invest $5 million in the final phase of the margarine processing technology and soap plant upgrade. Margarine production at Olivine was being hampered by old equipment, some of it dating back to 1947, which saw the firm losing a considerable market share to other brands.…

Demand for infant formula ingredient continues to grow – Advanced Lipids

CHINA - The demand for infant formula containing SN-2 palmitate – an ingredient that mimics the fatty acid profile in human milk – has soared over the past decade and will continue to grow, according to Advanced Lipids. Advanced Lipids is a joint venture established by Enzymotec, a leading biotech company specializing in lipid-based bio-functional…

Devonshire Capital to acquire 51% stake in Ruchi Soya

INDIA - Merchant banking firm Devonshire Capital is planning to acquire 51 per cent stake in Ruchi Soya Industries (RSIL) and will invest Rs 4,000 crore (US$619 million) in certain branded packaged oils distribution business of the agri and food FMCG company. RSIL's Board of Directors has approved signing of a binding term sheet with…

Unilever’s local subsidiary sells olive oil business in Greece

GREECE - Elais-Unilever Hellas, the company’s Grrek subsidiary, has announced it intends to sell its Altis, Elanthi and Solon olive brands, and start manufacturing cleaning products in Greece, to counterbalance its departure. According to a senior company official, “it would be ideal if both the olive oil and the margarine brands ended up in the…