Tuesday, 01 September 2015

Multiple honors for Dr Neil Gudmestad at World Potato Congress in Beijing

Multiple honors for Dr Neil Gudmestad at World Pot...

  North Dakota State Plant Pathologist Dr. Neil Gudmestad was honored at the World Potato Congres...

China makes global commitment to the potato

China makes global commitment to the potato

China's commitment to the potato was very publicly and internationally demonstrated when it hosted t...

The PAA held their annual meeting in Portland, USA

The PAA held their annual meeting in Portland, USA

The Potato Association of America held their 99th Annual Meeting during July 19-23, 2015 in the east...

TOMRA wins design award for its common user interface

TOMRA wins design award for its common user interface

  TOMRA’s Common User Interface (CUI), designed by TOMRA Sorting Solutions (TOMRA) and Design Partners...

TOMRA Sorting Food signs new contracts at World Potato Congress

TOMRA Sorting Food signs new contracts at World Potato ...

  TOMRA Sorting Food has welcomed two new Chinese customers into the fold during a signing ceremony at...

The constant changes in Asian potato chips

The constant changes in Asian potato chips

  Over the last four centuries, the potato has come a long way from the American Andes. Since its cult...

Alternative processing technologies on program at PROCESS EXPO

Alternative processing technologies on program at PROCE...

  The Food Processing Suppliers Association has released the details of four sessions of the education...

The sharp edge of the job

The sharp edge of the job

  Product perfection starts before the processing. It is maintained in the processing plant but only e...

Efficient drying pays off

Efficient drying pays off

  When it comes to drying potatoes, regardless of the type of end product one may have in mind, there ...

McCain Australia has new range of frozen potato wedges

McCain Australia has...

  McCain Australia has recently launched the new wedges ‘...

Tolsma-Grisnich and Kiremko, partnership for a new plant in China

Tolsma-Grisnich and ...

  Strategic partners Tolsma-Grisnich and Kiremko recently...

Utz Quality Foods launches Specialty Division

Utz Quality Foods la...

Utz Quality Foods, Inc. has recently announced the culmina...

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 ...

4th Symposium of Potato Cyst Nematode Management

4th Symposium of Pot...

  The 4th Symposium of Potato Cyst Nematode Management wi...

UK Potato Council says it is a record year for seed potato exports

UK Potato Council sa...

  Seed potato exports are booming, with the latest figure...

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 ...

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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