Sunday, 07 February 2016

FRUIT LOGISTICA 2016 becomes capital of fresh produce trade for three days

FRUIT LOGISTICA 2016 becomes capital of fresh prod...

  From February 3 to 5, FRUIT LOGISTICA in Berlin is the place to be for everyone that wants to k...

Perupas shortlisted for Fruit Logistica Innovation Award

Perupas shortlisted for Fruit Logistica Innovation...

  WOW! Colourful Perupas made by Dutch company HZPC were selected by the international Fruit Logi...

Givaudan celebrates ten years of ethical sourcing

Givaudan celebrates ten years of ethical sourcing

  Givaudan is marking a milestone in its journey to sustainable natural ingredients with an event...

Kiremko starts construction works at new facility

Kiremko starts construction works at new facility

  On February 1, the construction of the new Kiremko building started in a festive way in Montfoort, T...

Potato cultivation programme lifting people out of poverty in Africa

Potato cultivation programme lifting people out of pove...

  The Irish Potato Coalition is a programme set up by Vita, an Irish NGO, which works with communi...

Combined power drives TOMRA Sorting Food

Combined power drives TOMRA Sorting Food

  Optical food sorting system manufacturer TOMRA Sorting Food has reached an important milestone in it...

Sensor-based systems for the potato industry exhibited at Fruit Logistica 2016

Sensor-based systems for the potato industry exhibited ...

  A new edition of the Fruit Logistica trade show is set to take place in Berlin, Germany, between Feb...

AHDB launches website to improve potato chips quality

AHDB launches website to improve potato chips quality

  With the frying trade accounting for 12% of the Great Britain potato crop, ensuring quality across t...

Snack manufacturer Ibersnacks assesses its weigher-bagger equipment

Snack manufacturer Ibersnacks assesses its weigher-bagg...

  Snack manufacturers with high production outputs to pack and large orders to fulfil are among the mo...

FAM and Stumabo launch NECST - Next Evolution in Centrifugal Slicing Technology

FAM and Stumabo laun...

  FAM Stumabo developed NECST TM, an ambitious R D proj...

Potato chips in Canada - All dressed up

Potato chips in Cana...

  If you want to try potato chips with ketchup, dill pick...

Pasteurization - It’s all about safety first

Pasteurization - It’...

  Improved shelf life for food products is essential – no...

Kiremko and Packo present new product pump

Kiremko and Packo pr...

    Dutch manufacturer Kiremko and Packo, designer and c...

Company introduces potato starch for clean label food coatings

Company introduces p...

    Eliane™ Bind 12 is a potato starch with unique propert...

Welsh potato growers get latest know-how on Potato Day

Welsh potato growers...

  Over 50 potato growers gathered at the County Showground ...

Chile considered robust market for American agricultural equipment

Chile considered rob...

  In the most recently released U.S. Department of Commer...

Dundee-China collaboration discovers potential ‘Achilles heel’ of potato blight

Dundee-China collabo...

  Scientists working in Scotland and China have uncovered...

SmartStor controller wins Certificate of Merit at Lamma 2016

SmartStor controller...

  Lamma 16, the first major farming event of the year too...

Another stage completed at new Agristo cold store

Another stage comple...

  Egemin Automation has embarked upon a new major phase i...

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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