Food Business News - October 7, 2014 - (Page 10)

Mondelez to build biscuit plant in Bahrain MANAMA, BAHRAIN - Mondelez International has unveiled plans to invest $90 million to build a biscuit plant in the Kingdom of Bahrain, a move geared toward meeting rising demand in the Middle East and Africa for such brands as Oreo, Ritz and TUC biscuits. The facility will be Mondelez International's most advanced manufacturing site in the Middle East and Africa, and full commercial production is scheduled to start in early 2016. In the initial two- to threeyear phase, the new plant will operate four biscuit-manufacturing lines with a total capacity of nearly 90,000 tons per year, Mondelez said. "This investment in Bahrain is part of our ongoing supplychain reinvention plan," said Daniel Myers, executive vicepresident of integrated supply chain at Mondelez "We're implementing several such initiatives around the world to capitalize on growing demand, while also reducing costs and improving productivity. We're p pleased with our progress in r regions, such as Mexico and I India, where we've already b begun to invest." Mondelez has indicated it e expects to deliver $3 billion in g gross-productivity savings, $1.5 b billion in net savings and $1 bill lion in incremental cash over t the next three years as part of t the company's supply-chain reinvention plan. The savings will be a primary driver of significant improvements in the company's base operating-income margin in the near term. "We are investing for the future and are very grateful to the government of Bahrain for its long-standing and unwavering support of our investments here," Vishal Tikku, Mondelez International's area vice-president for the Middle East, said at an Oct. 1 joint ceremony with Bahrain's Minister of Industry and Commerce, Hassan Fakhro. "We are seeing very rapid growth for our iconic brands across emerging markets, including the Middle East and Africa." The new plant will result in as many as 300 direct jobs by the end of the initial phase and, through a multiplier effect, help sustain over 1,000 more in the local economy, Mondelez said. This is Mondelez International's second major investment in Bahrain. The U.S.based company already has invested more than $75 million in developing a Kraft Cheese and Tang powdered-beverage plant in Bahrain, which has been operational since 2008. With a production capacity of 110,000 tons per year, the existing facility employs more than 240 people and has injected over $250 million in the local economy. FBN ADM forming new ingredients unit after Wild acquisition CHICAGO - Archer Daniels Midland Co. will form a new business unit called Wild Flavors and Specialty Ingredients now that it has completed the acquisition of Wild Flavors GmbH, Chicago-based ADM said Oct. 1. The new business Morris unit will be a reportable segment beginning Jan. 1. Greg Morris, recently ADM's president of North American Oilseeds Processing, will become president of Wild Flavors and Specialty Ingredients. Vince Macciocchi Macciocchi, currently Wild North American chief operating officer, will become global president, Wild 10 FOODBUSINESS NEWS ® Flavors. Mike Ponder, currently Wild's chief executive officer, recently announced his retirement and will join Hans-Peter Wild, former majority owner of Wild Flavors GmbH, on an advisory board. ADM originally announced the all-cash transaction valued at about €2.3 billion, on July 7. ADM will pay €2.2 billion to Wild Flavor shareholders, Dr. Wild and funds affiliated with Kohlberg Kravis Roberts & Co. L.P., and ADM also will assume about €100 million of net debt. The new Wild Flavors and Specialty Ingredients business unit will include the Wild business and the following ADM product lines: specialty proteins, emulsifiers, edible beans, natural health and nutrition, soluble fiber, polyols, and hydrocolloids. "Greg and Vince are responsible for ensuring that Wild Flavors' recipe for success continues," said Patricia Woertz, chairman and c.e.o. for ADM, on Oct. 1. "Dr. Wild has built a great company, and we intend to support Wild's innovative, entrepreneurial culture. Between our global networks, tremendous innovation capabilities, great teams and extensive product lines from both ADM and Wild, we now have one of the world's leading flavors and specialty ingredient companies. We are excited about offering complete food and flavor solutions to our customers around the globe." Mr. Morris joined ADM in 1995. As president of North American Oilseeds Processing, he oversaw more than two dozen oilseed crushing plants. Mr. Morris received a bachelor's degree in finance from Illinois State University in Normal, Ill., and a master's in business administration from Drake University in Des Moines, Iowa. Mr. Macciocchi, as ADM's global president, Wild Flavors, will be responsible for the Wild business within the Wild Flavors and Specialty Ingredients business unit. He also will be responsible for the unit's go-tomarket strategy. Mr. Macciocchi joined Wild as North American chief operating officer in 2012. He previously worked for Givaudan Flavours, American MaizeProducts Co., Roquette America and IngredientsNet.com. He received a bachelor's degree in economics from Eastern Illinois University in Charleston, Ill., and a master's in business administration from North Central College in Naperville, Ill. FBN October 7, 2014 http://www.IngredientsNet.com

Table of Contents for the Digital Edition of Food Business News - October 7, 2014

Food Business News - October 7, 2014
General Mills to eliminate more jobs
Sugar prices remain high amid Mexican trade dispute
Dairy Business News - Increasing ice cream sales
Table of Contents
Web Contents
Editorial - Putting millennials in perspective
Mondelez to build biscuit plant in Bahrain
ADM forming new ingredients unit after Wild acquisition
Hershey acquires Chinese confectionery company
Sabra Dipping Co. names new c.e.o.
Restaurant index rises for first time in three months
Snack preferences differ between millennials and boomers
F.D.A. issues ‘food safety challenge’
Kontos Foods expands to Caribbean
Snatching share in the snack market
Starbucks acquiring full control of Japan business
JAB Holding to acquire Einstein Noah Restaurant
Seaboard sells stake in Daily’s Premium Meats
Diamond still in the rough
Chiquita to get larger share of company in revised Fyffes deal
Coke sees $300 billion international opportunity
Small victories add up for ConAgra Foods
Carbonated waters: Tiny bubbles, big splash
Guilty verdicts in Peanut Corporation of America trial
Washington - F.D.A. revises four proposed food safety rules
Flavor Trends - Sophisticated heat
Ingredient Innovations - Spreading and staying stable
Buzz around sustainable palm oil grows louder
The scoop on Baskin-Robbins’ return to growth
New Food Products
Ingredient Market Trends - U.S.D.A. estimates U.S. wheat crop at 2,035 million bus
Ingredient Markets
Supplier Innovations and News
Classifieds
Marketplace
Ad Index
Food Business in the News

Food Business News - October 7, 2014

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