Friday, 28 April 2017

Innovations Showcase and Award Program at Process Expo 2017

Innovations Showcase and Award Program at Process ...

  This year’s edition of Process Expo will offer, for the first time, an interactive Innovations ...

Innovative Development Discussed at Global Starch Conference

Innovative Development Discussed at Global Starch ...

  "Global Starch Industry Conference" is coming back in 2017 at Shanghai New Internatio...

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...

Lamb Weston/Mejier Buys Oerlemans' Potato Division

Lamb Weston/Mejier Buys Oerlemans' Potato Division

Lamb Weston Holdings, Inc. (NYSE: LW) announced today that its European joint venture, Lamb-Weston/Meijer...

IFA: Potato Prices Strengthen

IFA: Potato Prices Strengthen

Irish Farmers Association (IFA) says that Easter has given a welcome boost to the potato trade and with...

Big Idaho Potato Truck Wins Award for Publicity

Big Idaho Potato Truck Wins Award for Publicity

  The Big Idaho Potato Truck won the Bulldog Reporter’s Silver Award for Best Special Event, after mor...

Sormac Makes Improvements in Knife Peeler MS-20

Sormac Makes Improvements in Knife Peeler MS-20

  Sormac has recently announced the renewal of its knife peeler MS-20, with improvements in cleaning a...

 tna solutions Launches ropac 5 Case Packer

tna solutions Launches ropac 5 Case Packer

  tna has launched the tna ropac 5, an ultra-high-speed case packer for flexible bags that is capable ...

 Energy-efficiency and Healthy Oils Drive Countertop Fryers Market

Energy-efficiency and Healthy Oils Drive Countertop Fr...

  Countertop fryers have gained significant popularity among many food service establishments that req...

PepsiCo and McCain Recall Hazardous Batches of Potato Products

PepsiCo and McCain R...

  Pepsico Canada and McCain Foods were pressed to make im...

Japan Faces Potato Chips Shortage

Japan Faces Potato C...

    Due to typhoons that hit Hokkaido last year, Japanes...

Tasteful Selections Launches New Specialty Potato Brand

Tasteful Selections ...

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

Netherlands’ Potato Processing Industry to Reach a Milestone

Netherlands’ Potato ...

  Potato manufacturers in the Netherlands are approaching...

Research Finds High Levels of Acrylamide in UK Crisps

Research Finds High ...

    Nearly one in five, aprox.17%, potato crisp varietie...

Food Packaging Rules, Misleading and Potentially Dangerous

Food Packaging Rules...

  Food packaging is not tailored enough to contents, a te...

FailChips Launches New Brand of Crushed Chips

FailChips Launches N...

  In February, a new brand of chips made its debut with a...

Exclusive Interview: Branston - We Work to Improve Varieties and Develop Tastier Potatoes

Exclusive Interview:...

  Branston is now one of the biggest potato suppliers in ...

High Levels of Acrylamide for Potato Fries in Brussels

High Levels of Acryl...

  Fifteen percent of Brussels’ friteries surveyed selling...

Researcher Discusses Diseases of Potato Plants

Researcher Discusses...

  Anne Njoroge, a molecular pathologist working at the In...

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...

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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