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
Cécile Béliot has assumed the role of Bel Group chief executive officer, following the decision to separate the roles of chairman and CEO. The separation of the functions will enable Bel Group to develop in three areas of healthy snacking. Meanwhile, the company’s former CEO, Antoine Fiévet, has had his mandate renewed as chairman of the board.
US Food and Drug Administration (FDA) Commissioner Dr. Robert Califf was grilled by lawmakers during a House Appropriations subcommittee hearing, where he was slammed over the agency’s handling of the escalating infant formula shortage.
Sweegen is ramping up its efforts to reduce sugar across F&B applications while simultaneously tapping into the benefits of using antioxidants and bitter blocking technology. Speaking to FoodIngredientsFirst, Casey McCormick, vice president of global innovation at Sweegen, says product developers can find a broad range of solutions in Sweegen’s nature-based sweetener systems as brands elevate better-for-you foods.
