Food Industry News

:. Food Industry News

Today's Headlines 25/07/2008

Indonesia's Astra Agro H1 Profit More Than Doubles Jakarta, July 25 - Indonesia's largest listed plantation company, PT Astra Agro Lestari Tbk, said on Friday its first-half net profit rose 134 percent from a year ago, supported by strong palm oil sales.

Ukraine's Leading Sweet Maker Roshen Boosts H1 2008 Sales by 33% 25 July 2008 - Ukraine's leading sweet manufacturer Roshen Confectionery Corporation has announced that its sales for the first half of 2008 amounted to USD 400 million, a 33% increase compared to H1 2007.
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Mitchells & Butlers Lifted by Summer Trade, Loan London, July 25 - British pubs operator Mitchells & Butlers reported a small pick-up in trade over the early summer, driven by food, and announced a new three-year facility to cover its short-term borrowing, boosting its shares.

Imperial Sugar Safety Officer to Testify Company was Warned on Dust Dangers Months before Deadly Explosion 25 July 2008 - An Imperial Sugar Co executive is expected to testify next week that he warned the company about the hazards of sugar dust at a US refinery months before it was destroyed in an explosion.

US Tomato Industry Demands US$100 Million Compensation over Salmonella Outbreak 25 July, 2008 - The US tomato industry is demanding up to US$100 million in compensation following the recent alert that the fruit was responsible for a nationwide salmonella outbreak.

Russia: Synergy Founds Distribution Branch in Ukraine 24 July 2008 - In the framework of operational plans' realization, connecting with the export development, Synergy founded its own branch in Ukraine – “Synergy Market Ukraine”.

SABMiller Expands Export Operations in Europe 25 July 2008 - SABMiller plc announces that it is expanding its European export operations into a selection of additional markets, with the intention of significantly increasing volumes over the next five years.

Cocoa Giant Ivory Coast Targets Biofuel Production Abidjan, July 24 - Ivory Coast, the world's top cocoa producer, is diversifying into the booming market for biofuels by growing the oil-rich jatropha plant, farmers said this week.

Casino Raises Its Stake in CBD from 32.9% to 35.3% Saint Etienne, 25 July 2008 - Casino acquired yesterday 5.6 million voting shares representing 2.4% of CBD's share capital at a price of BR$ 22.9 per share.
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Britvic Confident of Meeting Full-Year Expectations London, Jul. 25 - Soft drinks group Britvic said on Friday it is confident of achieving full-year earnings in line with market expectations but warned conditions in the licensed on-premise market will remain challenging.

InBev China Venture Gets Regulatory Nod for IPO Shanghai, July 25 - The Chinese venture of InBev NV has obtained regulatory approval for an initial public offering in China to raise about 1 billion yuan ($147 million), a person with direct knowledge of the situation said on Friday.

Jamba, Inc. Reports Unaudited Fiscal Second Quarter 2008 Company Stores Revenue Increase of 11.7% Emeryville, Calif., Jul. 24 - Jamba, Inc. today reported preliminary unaudited revenue, comparable store sales, and store count results for its fiscal second quarter 2008.

J & J Snack Foods Announces Down Earnings Pennsauken, N.J., Jul. 24 - J & J Snack Foods Corp. today announced record sales but lower earnings for its third quarter and nine months ended June 28, 2008.

Brown-Forman Shareholders Celebrate Record Year

Kraft Foods Expands Wisconsin Pizza Plant 25 July 2008 - Kraft Foods has started expansion work on its pizza manufacturing plant in Little Chute, Wisconsin. An extra 100,000 square feet will be added to the facility. A new pizza crust bakery line and assembly line will be installed, enabling a significant increase in production capacity.

WTO Talks Live Another Day, Little Progress So Far Geneva, July 25 - Marathon trade talks limped into another day on Friday but with little progress so far on the tortuous negotiations ministers said it would soon be time to decide whether a deal was at all possible.

Danone: First Half Results 2008 25 July 2008

Dollar Falls After Weak US Data, Yen Rises Broadly Tokyo, July 25 - The dollar dropped against the yen on Friday, extending falls from a one-month high hit the previous day on disappointing news on the U.S. housing sector and steep losses on Wall Street.

Yesterday's Headlines 24/07/2008

Tiger Brands to Buy Chococam from Barry Callebaut Johannesburg, July 24, 2008 – Tiger Brands Limited, South Africa's leading branded food and healthcare company, announced today its intention to acquire 74.7% of the shares of consumer chocolate manufacturer Chococam in Cameroon from Barry Callebaut, the world's leading manufacturer of high-quality cocoa and chocolate products.

Cheesecake Factory Results Disappoint; Stock Falls Los Angeles, Jul. 24 - Cheesecake Factory Inc posted lower quarterly profit Thursday as the weak economy weighed on sales, and revenue fell short of expectations, sending the restaurant operator's shares down more than 6 percent.

Canada Bread Reports Second Quarter Results Toronto, Jul 24, 2008 - Canada Bread Company, Limited today announced its financial results for the second quarter ended June 30, 2008.

Rohm and Haas Company Reports Second Quarter Results Philadelphia, Jul. 24 - Rohm and Haas Company today reported second quarter 2008 sales of $2,567 million, a 17 percent increase over the same period in 2007, with Electronic Materials and the chemical businesses outside North America delivering strong growth.

Bunge Reports Second Quarter Results White Plains, NY, July 24, 2008 – Bunge Limited: Total segment EBIT reached $1,078 million; Agribusiness results were strong across the business; Fertilizer benefited from the strong global agricultural environment; The Company is increasing its full year 2008 earnings guidance by $2.25 per share.

BASF Plant Science Takes Amflora Case to EU Court Limburgerhof, Germany – July 24, 2008 – BASF Plant Science today filed an action with the European Court of First Instance in Luxembourg against the EU Commission for failure to act.

Dow Chemical Second-Quarter Profit Hurt by Costs New York, Jul. 24 - Dow Chemical Co said Thursday that second-quarter earnings fell as its price increases had failed to offset a sharp spike in energy and raw material costs.

USA: Hawaii's Daiichiya-Love's Bakery Sold to Local Investor Group After 27 Years of Japanese Ownership 24 July 2008 - Daiichiya-Love's Bakery, a leading supplier of freshly-baked bread in Hawaii, has been sold to a group of Hawaii managers by its Japanese owner, First Baking Co. Ltd. of Japan., report local media.

Roasters Chase Vietnam Beans, Discounts Narrow Singapore, July 24 - Coffee roasters in Europe were seeking robusta beans from Vietnam but local farmers could only offer a small quantity with the next crop still a few months away, dealers said on Thursday.

Singapore Food Industries Maintains Strong Earnings Growth of 29% in Q2 2008 24 July 2008

Coca-Cola Reduces Can Size in Hong Kong by 7% as Aluminium Prices Climb 24 July, 2008 - Coca-Cola has cut the size of its cans by 7% in Hong Kong because of the soaring cost of raw materials.

Australia Clears NatFoods Bid for Dairy Farmers Melbourne, July 24 - Australia's competition watchdog cleared a joint bid for Dairy Farmers by National Foods, owned by Japan's Kirin Holdings , and Warrnambool Cheese and Butter Factory , accepting their moves to ease competition concerns.

Ferrero Expects Russian Plant to Begin Production in Late 2009 24 July 2008 - German construction firm Hochtief has announced that its Russian branch has been awarded a 91 million euro contract by Ferrero Russia Zao, a subsidiary of Ferrero Middle and Eastern Europe GmbH, to build a confectionery facility near the city of Vladimir, about 180 kilometers east of Moscow.

South Africa: Tongaat-Hulett Sees H1 Profit from Ops up 44 pct Johanneburg, July 23 - South African sugar group Tongaat-Hulett said on Wednesday it expects its first-half profit from operations to increase by 44 percent to 443 million rand.

US: Grocers Supply to Acquire 37 Stores, Carnival Brand from Minyard Food Stores Coppell, Texas, 23 July, 2008 - Minyard Food Stores, Inc. today announced the agreement to sell its Carnival Super Market brand and 37 of its stores to a group led by The Grocers Supply Co., Inc. The group includes Houston-based retailer Fiesta Mart, Inc., and many of Grocers Supply's local area retail grocer customers.

Pernod Ricard Completes Acquisition of V&S

Pernod Ricard 2007/08 Full-Year Sales at EUR 6,589 Million Paris, 24 July 2008 - Pernod Ricard sales increased by 2.3% to EUR 6,589 million (excluding tax and duties) for the 2007/08 financial year ended 30 June 2008. This performance was the result of an outstanding 8.7% organic growth, a strong foreign exchange impact (-4.6%) primarily due to the depreciation of the US dollar and a -1.6% Group structure impact.

Russia X5 to Fight Karusel Takeover Conditions Moscow, July 23 - Russian retail group X5 said on Wednesday it will ask Moscow's Arbitration Court to overturn conditions imposed by the Federal Anti-monopoly Service when it acquired a rival chain.

San Miguel May Sell Part of Major Units in Restructure Manila, July 24 - Philippine food and drinks giant San Miguel said on Thursday it may sell part of its major businesses in a corporate restructuring but would retain a 51 percent share in all of the units.

European Food Safety Authority Reaffirms Safety of Bisphenol A (BPA) Washington, Jul. 23 - Despite continuing controversy over the use of bisphenol A (BPA) in food and beverage packaging, its safety was emphatically reaffirmed today by one of the world's most renowned international government authorities on food safety.

Australia Watchdog Flags Concerns on Parmalat Bid for Dairy Farmers Melbourne, July 24 - Australia's competition watchdog raised concerns about Italian food group Parmalat's bid for dairy producer Dairy Farmers on Thursday, but cleared a rival bid led by Japanese-owned National Foods.

Danone China Head Faces Tax Probe Shanghai, July 24 - Shanghai's tax bureau will investigate Groupe Danone SA's China chief executive for suspected tax evasion, a bureau official said on Thursday, adding to a series of tax probes and lawsuits embroiling the French food giant and its estranged Chinese partner Wahaha.

New England Farms Blossom in Cheese Renaissance West Pawlet, Vt, Jul. 23 - Standing in a 144-year-old Vermont dairy farm making goat's milk Romano cheese in a 150-gallon stainless-steel mixer, Peter Dixon is at the heart of a revolution in American cheesemaking.

Gourmet Coffee Eats into Panama Forest Panama City, July 23 - Panama's gourmet coffees fetch record prices for their prized flavors but the strong demand is convincing some growers to clear land illegally and plant in one of the country's few protected highland forests.

Brewer Lion Nathan Reaffirms Profit Outlook Melbourne, July 24 - Australia's second-largest brewer, Lion Nathan, reported 7 percent growth in nine-month sales revenues on Thursday and reaffirmed its earnings guidance for the full year and for 2009.

Vietnam Jan-July Rice Exports to Ease 6.8 pct Hanoi, July 24 - Vietnam estimated on Thursday its rice exports in the first seven months of this year would fall 6.8 percent from the same period last year to 2.79 million tonnes even though the government has lifted a ban on the grain exports.

Wednesday's Headlines 23/07/2008

Anheuser-Busch Cos. Reports Increased Sales and Earnings for the Second Quarter and First Six Months of 2008 St. Louis, July 23, 2008 – Anheuser-Busch Cos. Inc. today reported that second quarter 2008 net sales increased 4.6 percent and diluted earnings per share (excluding a one-time item in 2007) increased 9.2 percent. For the first six months of 2008, net sales increased 5.3 percent and diluted earnings per share (excluding the one-time item) improved 7.1 percent.

India: Overview of US$3 Billion Snack Food Sector

EU Reports Spike in Food Safety Warnings in 2007 Brussels, July 23 - Consumers should not have any fears about the quality of food sold across the European Union despite a record number of food safety warnings posted last year, the EU's health chief said on Wednesday.

Coca-Cola FEMSA Announces 2008 Second-Quarter and First Six Months Results Mexico City, July 23, 2008 - Coca-Cola FEMSA, S.A.B. de C.V., the largest Coca-Cola bottler in Latin America and the second-largest Coca-Cola bottler in the world in terms of sales volume, announces results for the second quarter of 2008.

McDonald's Posts Higher Second-Quarter Profit New York, Jul. 23 - McDonald's Corp, the world's largest restaurant chain, posted a higher second-quarter profit Wednesday, boosted by strong overseas sales.

Hershey Announces Second Quarter Results Hershey, Pa., July 23 - The Hershey Company today announced sales and earnings for the second quarter ended June 29, 2008. Consolidated net sales were $1,105,437,000 compared with $1,051,916,000 for the second quarter of 2007. Net income for the second quarter of 2008 was $41,467,000 or $0.18 per share-diluted, compared with $3,554,000 or $0.01 per share-diluted, for the comparable period of 2007.