Wednesday, 22 February 2017

Exclusive: Number of Equipment Suppliers on the Rise at Fruit Logistica 2017

Exclusive: Number of Equipment Suppliers on the Ri...

  The number of companies which exhibit technical solutions and machines for vegetables and fruit...

Opportunity to Explore Automation at the European Cold Chain Conference

Opportunity to Explore Automation at the European ...

  The 20th European Cold Chain Conference, taking place in Brussels, Belgium (March 8-10) is an o...

New Ag International Academy Prepares Courses for 2017 and 2018

New Ag International Academy Prepares Courses for ...

  New Ag International has designed a 10-day program to prepare decision makers to contribute to ...

Potato South Africa Reveals Insights on the Regional Market

Potato South Africa Reveals Insights on the Regional Ma...

  The potato industry contributes 3% of the total gross agricultural product and 58% of total vegetabl...

Public Discussions on Use of “Healthy” Labeling

Public Discussions on Use of “Healthy” Labeling

  The U.S. Food and Drug Administration (FDA) has announced a public meeting to discuss the use of the...

Royal Cosun’s Growth Driven By Aviko

Royal Cosun’s Growth Driven By Aviko

  Royal Cosun, the parent company of Aviko, announces an increase in its profit for 2016 in comparison...

Online Platform to Optimize Potato Chips Package Choice

Online Platform to Optimize Potato Chips Package Choice

Bosch Packaging Technology has launched an online information platform featuring its value enhancing co...

Tomra Launches Customer Service Center in Istanbul

Tomra Launches Customer Service Center in Istanbul

  Tomra Sorting Food has launched its first customer service center in Istanbul, Turkey, to expand fur...

 SCOPE Receives EUR1m to Research Potato Crop Disease

SCOPE Receives EUR1m to Research Potato Crop Disease

  Tyndall National Institute, Dublin City University (DCU) and Teagasc have received an investment of ov...

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,...

Potato Chips Recalls Due to Salmonella Risk

Potato Chips Recalls...

  Potato chips producers Herr Foods, Snyder of Berlin, Bi...

Farm Frites Launches Its Ultimate Chip

Farm Frites Launches...

 Potato grower and manufacturer Farm Frites has announced ...

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...

Cornell University Receives State Grant to Fight against Golden Nematode

Cornell University R...

 Cornell University received a USD1.2m boost in new state ...

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.

Digital edition


Click or tap to view our digital magazine
on your tablet or mobile device.

 x 
Cart empty

Latest Events

Feb 26th 2017 - Mar 2nd 2017
Gulfood
Mar 17th 2017 - Mar 21st 2017
INTERNORGA
Apr 1st 2017 - Apr 4th 2017
SNAXPO
Apr 4th 2017 - Apr 6th 2017
ProFood Tech
May 4th 2017 - May 10th 2017
interpack
Jun 13th 2017 - Jun 15th 2017
Global Cold Chain Expo
Jun 21st 2017 - Jun 22nd 2017
SNACKEX
Sep 19th 2017 - Sep 22nd 2017
Process Expo
Oct 7th 2017 - Oct 11th 2017
Anuga

Trade Media Solutions S.R.L. | 1-5 G-ral David Praporgescu Str., 1st Floor, District 2, 020965 Bucharest, Romania.
Tel: +40 (0) 21 31 590 31  | E-mail: office@mediatrade.ro