Food group Glanbia is in advanced discussions on a new $140 million project with its US joint venture partner South West Cheese.
The project, which will take two years to complete, will boost production at its cheese and whey production plant in New Mexico by 25 per cent.
Whey is the chief component in Glanbia’s fast-growing sports nutrition business.
The Kilkenny-headquartered company is now ranked as the biggest global player in the market.
In a trading update, the group said revenue was up 9 per cent over the first nine months of the year.
This was driven by a strong performance in sports nutrition division, the company said.
Managing director Siobhan Talbot said the outlook for the remainder of 2015 was positive.
She also reiterated the company’s full-year guidance of adjusted earnings per share growth of 9- 11 per cent on a constant currency basis – if exchange rates remain at current levels for the rest of the year.
Source: Irish Times
Danone has appointed three deputy CEOs to “better connect categories and regions” and drive the delivery of its ‘Renew Danone’ strategy. The new appointees are Veronique Penchienati-Bosetta, Shane Grant and Juergen Esser. They will report to Danone CEO Antoine de Saint-Affrique.
PepsiCo Portugal has announced that it will invest €7.5 million to construct a new biodigester, which will turn organic waste into biogas. As well as helping its Carregado facility to achieve a 30% reduction in carbon emissions, the biodigester will also contribute to reducing gas consumption, allowing the installation to use the biogas produced during the anaerobic digestion process.
Kerry is sponsoring The Kerry Upcycled Food Foundation Fellowship in a new partnership with the Upcycled Food Foundation (UFF), the non-profit subsidiary of the Upcycled Food Association (UFA). The research fellowship is the second initiated by the UFF and will work toward advancing the understanding of the market, consumer perception and technical opportunities of upcycled food.