Saturday, 21 October 2017

PROCESS EXPO Announces Innovations Showcase Finalists

PROCESS EXPO Announces Innovations Showcase Finali...

  The organizers of this year's Process Expo have announced the finalists of the Innovations Show...

Exclusive Interview: What’s in Store for Potato Processors at PACK Expo 2017

Exclusive Interview: What’s in Store for Potato Pr...

  Bringing together 2,000+ exhibitors and 30,000 attendees from virtually every vertical market, ...

FPSA Young Professionals Group Invites Attendees to Career Roundtables

FPSA Young Professionals Group Invites Attendees t...

  The FPSA's Young Professionals Group (YPG) will host informal roundtable sessions for students ...

International Potato Center Opens Regional Office in Georgia

International Potato Center Opens Regional Office in Ge...

  The International Potato Center (CIP) has opened its regional office covering Central Asia and the C...

US Retail Records Growth for Potatoes in August

US Retail Records Growth for Potatoes in August

  USA total potato retail performance recorded growth in August 2017, according to Total Store Monthly...

Kiremko Focuses on Sustainability

Kiremko Focuses on Sustainability

  Potato equipment processor Kiremko has introduced a new concept challenging itself to improve potato...

AVR Launches New Potato Harvester at Agritechnica

AVR Launches New Potato Harvester at Agritechnica

  Equipment producer AVR launches the latest 2-row potato harvester AVR Spirit 5200, at Agritechnica, ...

 Tomra Launches Enhanced Sorting Machine

Tomra Launches Enhanced Sorting Machine

  Tomra Sorting Food has launched an enhanced sorting solution which removes more than 98% of all typi...

Sormac Launches New MS-30 Knife Peeler

Sormac Launches New MS-30 Knife Peeler

  Equipment producer Sormac presents the MS-30 knife peeler for production lines with a higher process...

Left Field Foods Introduces Air-Puffed Potato Snacks

Left Field Foods Int...

  Canadian company Left Field Foods has launched Spokes a...

Branston Invests GBP6m in Lincoln Factory

Branston Invests GBP...

  Branston has announced the completion of a GBP6 million...

Lamb Weston Expands Operations in Richland

Lamb Weston Expands ...

  Lamb Weston Holdings celebrated the completed expansion...

Tasteful Selections to Introduce SteamPak Mini

Tasteful Selections ...

  Tasteful Selections, a specialty potato brand from RPE ...

Fresh Solutions Network to Introduce Flavorables Potato Line

Fresh Solutions Netw...

  Fresh Solutions Network will be serving up fresh-cut po...

Tesco Launches Candy Cane Flavored Crisps

Tesco Launches Candy...

  The UK supermarket giant Tesco has recently launches ne...

Fabcon Installs Potato Processing System in Kuwait Factory

Fabcon Installs Pota...

    UK-based Fabcon Food Systems has provided the machin...

Burts Chips Invests GBP3m in New Frying Line in Plymouth

Burts Chips Invests ...

  British potato chip maker Burts Chips installs a second h...

KFC Mashie Relaunched after Online Pressure

KFC Mashie Relaunche...

The KFC Mashie is returning to Australian shores after alm...

DARS Starts Cleaning Potatoes of Viruses to Improve Production

DARS Starts Cleaning...

    The Department of Agriculture Research Services in Mal...

Czech Potato Research Institute Cultivates Blue Potato Variety

Czech Potato Researc...

  The Potato Research Institute, based in the town of Hav...

British Potato Producer Builds Potato Store in Marsham

British Potato Produ...

  A potato producer has applied for permission to build a...

National Potato Council Awards Adrienne Gorny for Potato Research

National Potato Coun...

  The National Potato Council (NPC) announces that Adrien...

Solynta Develops Late Blight Resistant Potato Varieties

Solynta Develops Lat...

  Dutch potato breeding company Solynta has developed pot...

Hydroponic Potatoes Might Be Grown inside Europe’s Deepest Metal Mine

Hydroponic Potatoes ...

  A research team recently launched a pilot project to in...

Cornell University Publishes Organic Production and IPM Guide for Potatoes

Cornell University P...

  The practical potato production Guide was compiled by a...

Canada Approves Three New Types of GMO Potatoes

Canada Approves Thre...

  Three types of potatoes genetically engineered by an Id...

Cavendish Farms to Build Two New Modern Storage Facilities

Cavendish Farms to B...

  Prince Edwards Island's major potato processor Cavendis...

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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