Thursday, 17 August 2017

PotatoEurope 2017: “Potatoes Feed and Meet the World”

PotatoEurope 2017: “Potatoes Feed and Meet the Wor...

  PotatoEurope trade show is preparing for the 11th edition, which will take place September, 13-...

Exclusive Interview – Process Expo 2017: All about Pure Processing

Exclusive Interview – Process Expo 2017: All about...

  More than 600 food processing and packaging exhibitors will display machines, products and serv...

 Chip Festival Names Zapp’s Potato Chips as Grand Champion

Chip Festival Names Zapp’s Potato Chips as Grand ...

  The Chip Festival, held annually in Saratoga Springs, New York, USA, announces Zapp’s New Orlea...

James Hutton Institute Announces GBP3m Collaboration with China

James Hutton Institute Announces GBP3m Collaboration wi...

  The Chinese Government and leading potato processing company Xisen Potato Group are investing GBP3m ...

tna Opens New Office in Russia

tna Opens New Office in Russia

  tna is opening of a new office in Moscow, Russia, set up to support food manufacturers in Russia, th...

Ingredion and Lyckeby Announce Strategic Alliance

Ingredion and Lyckeby Announce Strategic Alliance

  Ingredion has today formed a new strategic alliance with Lyckeby Starch AB, a Swedish manufacturer o...

Tummers Announces Improvements on Its Technological Range

Tummers Announces Improvements on Its Technological Ran...

  Equipment provider Tummers announced the recent development in its range of machinery, as the compan...

Gpi and Kiremko Deliver Batter Line Installation for French Fries Coating

Gpi and Kiremko Deliver Batter Line Installation for Fr...

  Gpi and Kiremko worked together on designing and building a complete batter line that can produce li...

Key Technology Introduces New VERYX C70 Digital

Key Technology Introduces New VERYX C70 Digital

  Key Technology expands its VERYX family of digital sorters with the addition of the new VERYX C70, a...

Patatas Torres Announces Sparkling Wine Flavored Potato Chips

Patatas Torres Annou...

  The Spanish company Patatas Torres has recently release...

Microwaveable Retail Potato Segment Sees Continued Growth

Microwaveable Retail...

  A recent study on the microwaveable/steamable fresh pot...

Dieffenbach's Potato Chips Partners with VivaKids to Fight Hunger

Dieffenbach's Potato...

  Dieddenbach’s Potato Chips has announced that they will...

Little Potato Company Inaugurates New US Processing Plant

Little Potato Compan...

  Canadian firm The Little Potato Company held a ceremony...

POOOF! Introduces New Potato Kettle Chips

POOOF! Introduces Ne...

  POOOF!, the newly launched brand from the Indian compan...

Lay’s Announces ‘Do Us a Flavor’ Contest Finalists

Lay’s Announces ‘Do ...

  Lay’s has announced the three finalist potato chip flav...

Nottingham University and Pipers Crisps Develop Science of Crisps

Nottingham Universit...

  Pipers Crisps, one of Britain’s best-known crisp brands...

Side Delights Launchs Farmers Table Organic Russet Single Wrapped, Microwaveable Potato

Side Delights Launch...

Fresh Solutions Network is taking to the Organic Produce S...

Scarborough Borough Council Approves McCain Plant Expansion

Scarborough Borough ...

  Scarborough Borough Council has formally recommended ap...

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...

 Drones Measure Nitrogen Application in Potato Farming

Drones Measure Nitr...

  The researchers at Wageningen University Research ann...

Boise State Researchers Awarded IGEM Grant to Combat Potato Rot

Boise State Research...

  Boise State University researchers Harish Subbaraman, D...

Researchers Engineer Heat Tolerance in Potato Crops

Researchers Engineer...

  Scientists at the James Hutton Institute and the Univer...

Taiwan to Control Imports of GMO Potatoes

Taiwan to Control Im...

  Agriculture authorities in Taiwan say they are prepared...

Boise State University Develop Sensor for Potato Rot

Boise State Universi...

  Boise State University researchers Harish Subbaraman, D...

Simplot Postpones the Introduction of Innate Potatoes in Canada

Simplot Postpones th...

  Simplot Plant Sciences, the company that developed the ...

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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