Archer Daniels Midland Company plans to cut 127 staff at its recently acquired Neovia animal feed business in France to eradicate job duplication, the head of the group’s animal nutrition department said on Tuesday.
Chicago-based ADM took over Neovia for 1.54 billion euros ($1.73 billion) this year as part of the U.S. farm giant’s strategy to expand in the fast-growing animal nutrition sector.
Most job cuts will be at Neovia’s former headquarters in Saint-Nolff in the northwestern region of Brittany, with some at its research lab in Chateau-Thierry, east of Paris.
The plan was put forward to unions on Tuesday.
About 66 employees will be affected in addition to some people leaving who will not be replaced and temporary contracts that would not be renewed. Job losses will be seen in human resources, finance, legal, communications and marketing.
“We will share these services within ADM, at regional and global level,” ADM Animal Nutrition President Pierre-Christophe Duprat told Reuters.
He said other regions would be affected by the global reorganization but declined to say how many jobs were at stake.
Neovia has a limited presence in North America but a large one in Europe, Southeast Asia, and Central and South America.
As of the end of last year, it employed 8,360 people worldwide, with 1,070 of them in France, making up the bulk of ADM Animal Nutrition’s global staff.
The group will slow the acquisition rate after Neovia made about 20 acquisitions over four years, Duprat also said.
“We need to consolidate what has been purchased, improve the business unit’s efficiency, perform organic growth and then we’ll see,” he said.
By Sybille de La Hamaide
Source: Reuters
The facility is designed to foster innovation and deepen collaboration with customers, by offering a range of new services and solidifying its role as a central hub for customer support. Tereos’ team, supported by a network of 50 scientists, will ensure customers can innovate and meet the rising consumer demand for healthier and more sustainable products.
Glanbia has agreed to acquire Flavor Producers from Aroma Holding for an initial consideration of $300 million. Flavor Producers is a US-based flavour platform, providing flavours and extracts to the F&B industries, with a focus on organic and natural ingredients.
Lesnard, who previously worked at Nike, The North Face and Sephora, has a mission to “grow and sustain GODIVA’s position and expertise in the premium chocolate category, leveraging ongoing support from pladis to take GODIVA and its legendary chocolate to new heights.”
