News for the baking industry
Kansas City / MO. (ibc) Interstate Bakeries Corporation (IBC) says that it posted a profit in the month ended June 30, reversing losses in previous months. It was just the third monthly profit for the maker of Twinkies and Wonder Bread in almost three years.
Chicago / IL. (sl) Food maker Sara Lee Corporation says its fourth-quarter profit soared due to higher sales in nearly every division, led by retail meats and household and body care products. For the quarter ended June 30, net income climbed to 117 million USD from eight million USD in the prior-year quarter.
Amsterdam / NL. (csm) Dutch food group CSM has made further progress with the implementation of its initiatives in the first half-year of 2007. The country-based European Bakery Supplies organization is being transformed into a market-oriented European business unit structure.
Calabas Hills / CA. (cf) The Cheesecake Factory Incorporated announces that it has appointed Russell W. Bendel to serve as President and Chief Operating Officer of The Cheesecake Factory Restaurants Inc. and as an executive officer of the California based company, effective September 03.
Maputo / MZ. (aa) Mozambican authorities are withholding 36.000 tonnes of wheat destined for Zimbabwe pending payment of 15 million USD owed by the government for the grain. Government and milling industry sources have disclosed that the country´s grain monopoly, was unable to pay for the release of the wheat stocks.
Riga / LV. (tbt) Gone are the days when each Baltic village had its own unique style of bread, however, and the market today is dominated by large multinational companies. All three Baltic states have recently seen a rapid consolidation of bakeries, with the few largest companies controlling ever greater shares of the market and many smaller bakeries being forced to close their doors, the Baltic Times describes the market.
Ho Chi Min City / VN. (abc) The Asia Bakery Confectionary Co. announced that it would bring out products bearing the brand of Walt Disney as the company has clinched a deal with East Media Holding Inc. (EMHI) as the brand owner in Indochina.
Amsterdam / NL. (csm) Dutch food group CSM has acquired Kate’s Cakes based in the United Kingdom for a consideration of 20,5 million GBP for the shares plus the assumption of twelve million GBP in debt.
Cologne / DE. (km) Frozen food products are in demand not only in the domestic and foreign trade, but also in the food service and catering market. The forthcoming Anuga Frozen Food trade show will provide an overview of the diverse range of products available and the capabilities of the frozen food industry.
Bolton / UK. (wbl) Family baking firm Warburtons Limited has seen a dip in profits due to the rising cost of wheat. The bakery saw a strong increase in sales last year as it completed its transformation from a regional player into a national bread maker.
