Friday, 24 March 2017

A New Theme for PotatoEurope: “Potatoes Feed and Meet the World”

A New Theme for PotatoEurope: “Potatoes Feed and M...

  With seven months still to go, 50% of the exhibition space at PotatoEurope 2017 – the trade sho...

Potato Grower Awarded with NFU’s Highest Honor

Potato Grower Awarded with NFU’s Highest Honor

  The National Farmers Union (NFU) presented Merle Anderson, Cheryl Cook, and Kent Peppler with t...

Europatat and Belgapom Prepare to “Make the European Potato Trade Great Again!”

Europatat and Belgapom Prepare to “Make the Europe...

  “Make the European Potato Trade Great Again!” (it’s gonna be huge, it’s gonna be great, it’s tr...

Belgapom: 2016 Was a Record Year for Belgian Potato Processing Sector

Belgapom: 2016 Was a Record Year for Belgian Potato Pro...

  2016 was an absolute record year for the Belgian potato procession sector, according to Belgapom, th...

Exclusive: Asian Demand Drives US Exports of French Fries in 2016

Exclusive: Asian Demand Drives US Exports of French Fri...

It appears that more and more consumers in Asian countries are getting a taste for French fries, says t...

U.S. Potato Exports Reach Record Levels in 2016

U.S. Potato Exports Reach Record Levels in 2016

  For calendar year 2016, total U.S. potato exports were up 4% to USD1,726,920,330  – the highest ever...

Case Study: Mrs. Gerry’s Kitchen Implements New Peeling Technology

Case Study: Mrs. Gerry’s Kitchen Implements New Peeling...

  Mrs. Gerry’s Kitchen, based in Albert Lea, Minnesota, the USA, included with the latest expansion of...

TOMRA Presents the Latest Sorting Machine at ProfoodTech 2017

TOMRA Presents the Latest Sorting Machine at ProfoodTec...

  TOMRA Sorting Food will showcase the TOMRA 5A, its newest potato sorter, at the new biennial process...

Key Technology Introduces Infeed and Collection Conveyors for Veryx

Key Technology Introduces Infeed and Collection Conveyo...

  Key Technology has introduced new product-specific infeed and collection conveyors for their new Ver...

High Levels of Acrylamide for Potato Fries in Brussels

High Levels of Acryl...

  Fifteen percent of Brussels’ friteries surveyed selling...

Consumer Perception Regarding Potatoes Is Improving

Consumer Perception ...

  A big factor influencing potato demand in the past two ...

Exports of Frozen and Fresh Potatoes Continue to Grow

Exports of Frozen an...

  U.S. exports of frozen and fresh potatoes continued to ...

NEPG Notices Reduced Crops for the Current Season

NEPG Notices Reduced...

  The scarcity of seedlings could reduce crop rises annou...

Tostitos Creates “Party Safe” Bag

Tostitos Creates “Pa...

  Tostitos created the "Party Safe" bag – a bag...

Farm Frites Could Build French Fries Plant in Kazakhstan

Farm Frites Could Bu...

  Deputy Prime Minister of Kazakhstan and Minister of Agr...

French Potato Association Considers Building a Potato Processing Facility

French Potato Associ...

    Global demand for products from processed potatoes, pa...

FSA Starts Campaign Anti-Acrylamide in Home Cooked Foods

FSA Starts Campaign ...

  Food Standards Agency (FSA) is launching ‘Go for Gold’ ...

Pringles Introduces New Range of "Loud" Crisps

Pringles Introduces ...

    Pringles is introducing new line-up – Pringles Loud,...

New “Focus on Potato” Webinar Rhizoctonia Canker and Black Scurf

New “Focus on Potato...

  The Plant Management Network (PMN) has released a new p...

First UK Deposit in Global Seed Vault

First UK Deposit in ...

  The Commonwealth Potato Collection (CPC), an invaluable...

Cool Farming Tool Proves Sustainability of Potato Culture

Cool Farming Tool Pr...

  Since last autumn, the farmers and the professionals in...

Agreement on Genome-Analysis Technology

Agreement on Genome-...

  Monsanto Company and NRGene announced that they have re...

New Method to Capture Disease-resistant DNA for Plants

New Method to Captur...

  Scientists have developed and improved technique for ca...

New “Focus on Potato” Webcast Helps Growers Manage White Mold Infections

New “Focus on Potato...

The Plant Management Network (PMN) has released a new pres...

McDonald’s Chooses New Potato Varieties for Fries

McDonald’s Chooses N...

In September, the worldwide fast-food chain chose two new ...

Potato Growers Get Help to Fight with Late Blight Pathogen

Potato Growers Get H...

  The Plant Management Network (PMN) has released in Nove...

Potandon Produce Adds a New Organic Potato Supply Point

Potandon Produce Add...

  Potandon Produce LLC, the industry leader in fresh pota...

JBT Corporation, a leading global technology solutions provider to the food processing and air transportation industries, has announced cost reduction actions in its FoodTech segment in response to market conditions with an objective to improve margins.

 

"2011 was a challenging year for our FoodTech operations as we faced significant headwinds that negatively impacted our margins. Furthermore, economic uncertainties are pressuring demand in our major markets, particularly Europe and North America. As a result, we are implementing plans to re-align our FoodTech manufacturing capacity to further reduce costs and better address end market demand," said Charlie Cannon, Chairman and Chief Executive Officer.

"These actions are in line with a key element of our 4G strategy to grow margins, and we will continue to monitor the economic environment to implement further actions if necessary."

The Company's cost reduction actions reflect the following:
o Transferring manufacturing of certain freezer product lines to North America and China to improve flexibility to better address local market needs and to mitigate currency impacts in Sweden
o Consolidating batch sterilization equipment manufacturing footprint to reduce presence in higher cost regions
o Further reducing costs in response to lower demand in Europe and North America.

The cost reduction actions announced today primarily consist of a workforce reduction of approximately 115 positions and are expected to generate annualized pre-tax savings of approximately $9 million by 2013.

The company recognized essentially all of the pre-tax charge of approximately $10.5 million in the fourth quarter of 2011.

The workforce reduction is expected to be completed in the first half of 2012.

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