Milling & Baking News - January 1, 2019 - 42

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Genera sed shar
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OGY
TECHNOL
MILLING

FOODS

MAY 22, 2018

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et

Savage Com
panies mergin
Bartlett milling
g
, grain businewith
sses

INC.

INGREDIENTS UPDAT
MINNEA ht costs, tigh tegic revenues
stra
E
ng step
rising freig "targeted
are amo
and
wake
ditures ent actions"
ng in the pamanagem s, Inc. is taki of the com
Mill
quarter
General
cult third
ended
of a diffi fiscal year.
quarter
the
ny's 2018 me in the third er than in
Net inco sharply high sted mostly
was
, boo
Cuts
Tax
Feb. 25 rter last year
.
to the
third qua attributed at $504 million)
efits
by ben Act (estimated ts in the quarter
th, I'm
and Jobs operating profi
d
sales growthe bothas been
Adjuste
nic net
.
this year
of orga our results on rating
ance
thinking
declined
ope
ary goal line perform y," quarter
d in
-quarter expectatopienc
"Our prim
ppointe
Long-termit for
en our
Our third
-base
our effic rman disa line.  Grain
t of our
d food
acting
chai
to strength ntaining
tom
ing,
well shorsures are imp sder
mai
bears fru ds
men
fell recei
ile I'm
Har
ve Like the
broa
while
profit
Foo
er. "Wh
ey L.
d revie
cost pres mixe
20
. 
ws
Rogers
said Jeffrf executive offic ng on the firstr tions, andin IFIC
d on Page
outlook
Page 31
inue
on
veri
year
surve
y
Cont y
fullStor
e deli
consume
and chie
that we'r with strong tore ex- our
,
pleased
that goal vation, and in-s ecutive
part of
ng, inno a second cons
Story on Page
to
marketi
ing
28
lead
S
ecution
LATE NEW

s
acquire
Nisshin in Thailand ll
Flour Mill
flour mi
hin STC subsidiary
i
- Niss

LATE NEWS
s
cess and added capacity
nt Solution
urrison
d Ingredie
ch soMor
steps down
at Campbell
g in star
Soup
Investin
®

SALT LAKE
CITY - Savage
nies and Bartlet
Compat and Compa
announced
ny have
an agreement
under
Bartlett Grain
Co. and Bartlet which
Co. will merge
t Milling
with Salt Lake
based Savage
City.
A specialist
in supply chain
Savage has
services,
more than
4,000
ees in 250
operation locatio employthe United States,
ns across
Canada, Mexico
Saudi Arabia
and
. The compa
ny focuses on
rail, truck and
logistics, materimarine transportation,
als handling
er industrial
and othand enviro
nmental services. Savage
works with
in the oil refinin
compa
g, power genera nies and distribution
rail, food and
centers across
tion, United
agriculture,
States.
the
chemical and
oil
petrochemical and gas, than 40 translo Savage operates more
struction indust
, and conAmerica, wheread terminals in North
ries.
In food and
cluding sugar, food ingredients, inagriculture,
customers
flour, malt
include leading Savage's sweeteners
and corn
producers as
are
well as compa fertilizer different modes transferred betwee
n
ing food-grade
nies movof transportatio
tablished in
products to
n. Eswarehouses
1946, Savage
Companies

Foo
acquisition
iland. Inthrough
glen, Tha
turTOKYO Ltd., the Thaup's Nisshin
expand
d in Ban four manufac
CAMD
and ADM
s
un Gro acquired a
ing Co.
ch is base
EN, N.J.
operate
- Denise
hin Seif
n, Cargill
ing whi
d.
M. Morrison hasnow
said
Co., has Pacific Flour
of Niss
retiredThailan
Ingredio
diversify in- gredion
edient," ketthe ingr
Milling
preside
rs are
ities in asrend
t from
chief executi
$16.8
Flour
and
,ntmar
ing facil
le starch
t supplie
on-t
ing plan
officer of the
iland for
agerCampanve
e isCo.,
ngredien ch sources whi on elements bell"Ric
Soup
flour mill Ltd. in Tha isition, Nisfor Inor man oard
effectiv
, seni
es Keith O'Brien
e immed
ngb iately., N.J.
their star are centered
Mill Co., With the acqu
g sauc
doubled
ater
me Spri
Pat R. McLou
e than
to
ations
Brid
a gew
Wholeso ghlin,
s, includint filling in of theofboard
and
membe
nov
in
million. Milling mor
city
d
food
ing
capa
ergenicr aldirectors,oall
baked
and frui
andofbase
uction
said.
hyp has func
shin STC
meals , Cargill and Ar- named
within
interim c.e.o.,
gredion
r beention ,
Nisshin
ent prod
-G.M.O., and
in pany
erio
en food
Inc.
non
the
sted
sup
uses
froz
n,
its curr es per day, the recently
is
comin
inve
"Ithas begunPlus
ety of
the , its afor
. Ingredio
vari
,
Co. all .
leader. "Denis
630 tonn noted that ch has proa new
en-free. ideasearch
l for
desserts iels Midland
productsKANSA
recently
been a s,passion
ac- glutmakeseithas
dairy
S CITY - A
t, whi tonnes per
Nisshin
ate
cher Dan ch capabilities Ill., in 2017 advoca
food
major turnaro
underway at
ed plan
ery."
- ityte and gleader
babyover
und
herbak
with
15 years k in tanthe Cloverhill
purchas capacity of 350 , is located
the
their star n, Westchester, rice flour busi
company,"
en-free
includin
wor
quired
glut
,
bakery acent)
m
said
y
edio
and
tion
from Aryzta
Ltd.
may
and
Lee
ival
r
Lae
ney, chairm
Ingr
duc
Vinstarch
,
snacksan of ch
port,
or flou C.flou
stry Co.
rs of man
eat equ
year
the rice
- helped boost L.L.C. earlier this
starthe board.and
r Indu
made many
day (wh iland's largest r Milling esRiceimport
quired
has and tapi
ches "Shecorn
Sun Flou
at Hostess Brands first-quarter results
star
ant
contrib
to,
over thedem
near Tha Nisshin Flou Milling and
ness from
, Inc. and has
pastwith
g pota utions
seven
g.
8
executives optimi
years
compaincludin
as chief ex- ribuny
te to
ecutive officer
Chaban Nisshin STCinued on Page
bases, to reposit
stic
d
cont
prospe
.
Cont
e,
ishe
said
ion Campb
l canell toleranc cts moving forwar about growth
in the rapidly
tabl
oca, hechangi materia
Hostes
or s net income d.
process
food
try." The announ
flav
ure,indus"The baseng
and
text
in
,
the
ter
cement
ion
first
ended
ality came
quarerat
Page 22 March 31 totaled
genon
the d onequal
functionContinu
$23,841,000,
, opacity
to 24c per share
ed on Page
Continue
8
stability
on the commo
n

I

Continued on

Cloverhill bak
ery transform
seen lifting out
ation
look at Hostes
s
stock, up
51%

3/23/2018

www.ribbonblenders.com

12:00:58

PM

Page 10

from earning
$15,832,000
s of
in the same
period a year
ago. The most
a gain of $12,372recent quarter included
,000 related
out of a tax
to the buyreceivable agreem
increased 13%
ent.
to $208,743,000 Sales
$184,538,000.
from
Adjusted earning
s per share
first quarter
for
the
was 14c, down
the year before.
from 15c
Adjusted EBITD
first quarter
A in the
was
22.5% of revenu $47 million, equating to
e.
down 14% from Adjusted EBITDA was
2017.
Acknowledging
headwinds
transportation
from
,
lost sales and corrugated pricing and
costs, C. Dean increased outsourcing
Metropoulos,
of Hostess,
chairman
was noneth
eless
comments to
analysts during upbeat in
a May 9
Continu

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