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
The Coca-Cola Co. has promoted Evguenia (Jeny) Stoichkova to president of global ventures, effective Jan. 1, 2023. Ms. Stoichkova joined Coca-Cola Bulgaria in 2004 and was most recently the president of the company’s Eurasia & Middle East division, a role she has held since 2021.
US-based Perfect Day, is partnering with Onego Bio, which specializes in creating animal-free eggs, aiming to accelerate the timeline to bring the eggs to the market. The business, with the use of its technology, plans to commercialize animal-free ovalbumin, the most abundant egg white protein extracted through precision fermentation.
Food waste costs the EU €143 billion per year (US$141.7 billion), with a report by Feedback EU raising the alarm of how it’s vital to reduce waste from farm to fork 50% by 2030 and the only way this will be achieved is by enforcing a mandatory directive forcing the food industry to do better and retailers to pay a tax of food waste.
