IFF reports strong results of 9% net sales increase in the second quarter

USA - International Flavors & Fragrances, an American corporation producing flavors and fragrances and cosmetic actives, has reported strong results of 9% sales increase to US$920 million in its second quarter results. According to the company, the net sales of US$920 million was an increase of 9% from US$843 million in 2017, excluding the impact…

Bunge’s Agribusiness president Brian Thomsen to retire

USA - The American agribusiness and food company, Bunge Ltd has announced that Brian Thomsen, president Agribusiness unit, is retiring and plans to remain with the company through the end of the year for a smooth transition. Thomsen joined the company in 2004, and has led Bunge’s Agribusiness segment since May 2014, having previously served…

Diageo reports strong performance with net sales of US$14.24b in 2018 preliminary results

UK – Diageo, a British multinational alcoholic beverages company, has reported strong performance with net sales US$14.24 billion reflecting consistent and rigorous execution of our strategy. The company reported net sales US$14.24 billion and operating profit US$4.32 billion were up 0.9% and 3.7%, respectively, as organic growth was partially offset by adverse exchange. All regions…

Unilever announces intention to buy back shares to return after-tax proceeds

LONDON - Unilever PLC and Unilever N.V., have announced their intention to buy back shares with an aggregate market value equivalent of up to €6 billion to return the expected after-tax proceeds upon completion of the Spreads disposal to shareholders, unless more value-creating acquisition alternatives arise. The Group announced the completion of the Spreads disposal…

Bunge to close soybean crushing facility in Argentina with 60 possible layoffs

USA - The US grains merchant Bunge Limited is considering the closure of a soybean crushing plant in Buenos Aires Province putting about 60 jobs at risk, reported Reuters citing information from union of employees of soy crushing plants in Argentina. The union of employees representing Argentina’s soy crushing plants said that Bunge had informed…

Nestle reports 2.3% sales growth to US$43.9 billion in first half year results

SWITZERLAND - Swiss food giant Nestlé has reported a 2.3% sales growth to US$43.9 billion in the first half of the year as markets in the US and China improve. According to the company, the organic growth of 2.8% in the first half was due to the expectations and guidance plans for 2018. Real Internal…

Olam’s director Rachel Eng Yaag to resign from the board

SINGAPORE - Olam International has announced that Ms Rachel Eng Yaag Ngee will resign from the board as an Independent Non-Executive Director effective July 31, 2018. The agri-business firm said the decision was reached by the Board of Directors following Rachel’s acceptance to step down to pursue a career in a domestic law firm, a…

Cambridge Commodities acquires ingredient business of Earth Circle Organics

USA - Cambridge Commodities, the UK based ingredient supplier has acquired the ingredient business of the American importer and distributor of raw and organic food, Earth Circle Organics LLC. The deal will see Earth Circle Organics’ raw and organic superfood ingredient business merge with the US arm of Cambridge Commodities to form a new division,…

SIG unveils a microwaveable hot drinks carton pack for on-the-go consumers

SWITZERLAND - SIG Holdings AG, the Switzerland based aseptic carton packaging and filling machines provider has developed an aluminium-free, microwaveable hot drinks carton pack, ‘Heat&Go’ targeting particularly Asia where on-the-go consumption is rising. The new Heat&Go aseptic pack replaces aluminium foil, has a high-barrier film and a light-blocking pigment thus protecting the product from oxygen…

GEA partners with Almarai Company to build a modern dairy factory in Saudi Arabia

SAUDI ARABIA – GEA, one of the largest suppliers of technology for the food processing industry, has worked with Almarai Company in Saudi Arabia to build the nation’s largest and most modern dairy processing facility. Almarai Company is the the largest dairy company in Saudi Arabia by market value. The new plant at Al Kharj…