Saturday, 28 March 2015

Tomorrow's industry leaders are trained at 2015 PILI

Tomorrow's industry leaders are trained at 2015 PI...

  The Potato Industry Leadership Institute (PILI) Class of 2015 included twenty-seven potato grow...

Campaign “Cook Your Own Potatoes”, supported by Olympic athlete

Campaign “Cook Your Own Potatoes”, supported by Ol...

Potato Council has added an exciting new dimension to its successful ‘Cook Your Own Potatoes’ projec...

Horsch won "Best new product or innovation" category at LAMMA’15 Award

Horsch won Best new product or innovation catego...

The equipment manufacturer Horsch UK won the “Best New Product or Innovation” at LAMMA’15, the annua...

H.J. Heinz Company and Kraft Foods Group to form the Kraft Heinz Company

H.J. Heinz Company and Kraft Foods Group to form the Kr...

H.J. Heinz Company and Kraft Foods Group, Inc. announced they have entered into a definitive merger agr...

Consumer needs drive potato innovation strategy

Consumer needs drive potato innovation strategy

  Head of Potato Council R D Dr Mike Storey discusses Potato Council’s new Research and Innovation Str...

The US FDA gave green light to six varieties of GMO potatoes

The US FDA gave green light to six varieties of GMO pot...

  The U.S. Food and Drug Administration completed its evaluation for six varieties of potatoes genetic...

TOMRA launches its newest peeling solution for seasonal vegetables and fruit processors

TOMRA launches its newest peeling solution for seasonal...

  TOMRA Sorting Food will reveal the latest addition to its steam peeling portfolio at Anuga FoodTec, ...

Loma launches its new X-ray contaminant inspection machine

Loma launches its new X-ray contaminant inspection mach...

  The equipment manufacturer Loma Systems launched its new X-ray contaminant inspection machine, a mod...

Key Technology expands global customer service and support

Key Technology expands global customer service and supp...

  Key Technology announces the expansion of its global customer service and support, helping food proc...

Potatoes are back on WIC, a nutritional program for women, infants and children in USA

Potatoes are back on...

The National Potato Council (NPC) from USA succeeded to put ...

Exclusive interview with the director of Urschel Laboratories, Inc: The Urschel team is a very strong one

Exclusive interview ...

What began with one man's invention more than 100 years ago ...

Important investment in Lamb Weston frozen food facility in Netherlands will add capacity and jobs

Important investment...

Lamb Weston / Meijer, a joint venture between US-based ConAg...

Thanksgiving Feast, a new line of kettle-cooked potato chips

Thanksgiving Feast, ...

Boulder Canyon Foods introduces Thanksgiving Feast, a new ...

Potato Week 2014 to take place on October 6-12

Potato Week 2014 to ...

The dates for Potato Week 2014 are October 6-12 and the camp...

Indian Government will procure 6,600 tones of potato from farmers

Indian Government wi...

The State Government announced its decision to procure 6,6...

Company launches a new solution for potato sprouting

Company launches a n...

  BioSafe Systems announces the introduction of ARRET Spr...

Seed Industry Event conference tackles key industry concerns

Seed Industry Event ...

The recent Seed Industry Event, organized by British Potato ...

Armenia registered an important growth in potato exports in 2014

Armenia registered a...

Armenian potato exports totaled about 20,600 tons, compared ...

McDonald’s does not plan to use J.R. Simplot's GMO potatoes

McDonald’s does not ...

A huge debate is happening these days in the USA involving...

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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