JAPAN: Snow Brand to divest imported food additives operations
Snow Brand Foods (SBF), once Japan's sixth largest meat processor and now a scandal tainted unit awaiting liquidation next month, revealed plans earlier today [Friday] to sell its imported food additives business.
The firm has lined up Japanese trading house Nissho Iwai Corp as a buyer and a spokesman from Nissho revealed that the deal is worth an estimated ¥1bn to ¥2bn (US$76m to US$152m). The transaction will take place on 31 March.
The imported food-additives division supplies food producers with essential ingredients for products such as yoghurt and jam, and posts annual sales of about ¥5bn.
SBF admitted in January to conducting labelling fraud in order to benefit from government subsidies introduced after the emergence of BSE in the national herd. The company said that the proceeds from the sale wil be used to pay off liabilities.
The US Department of Agriculture says it has identified the source of the case of BSE confirmed recently....
US agriculture secretary Mike Johanns has announced that the US Department of Agriculture has received final test results from the Veterinary Laboratories Agency in Weybridge, England, confirming that...
Biotechnology company Vacci-Test Corporation has announced that a simple, reliable and economical diagnostic tool for the detection in live cattle of infectious brain diseases, including Bovine Spongi...
The US Department of Agriculture has said a suspected BSE sample has been sent to the UK for further testing after two separate tests gave different results....
The Ugandan government has banned the import of all dairy products to stop the possible entry of the disease BSE, according to the agency AFP....
Japan's independent Food Safety Commission has today (Friday) approved an easing of the blanket testing of all cows for BSE, paving the way for lifting an import ban on US beef, the Kyodo news agency ...
US meat company Tyson Foods Inc has reported lower income, despite higher sales, for the quarter and half year ended 2 April....
US meat company has filed a brief supporting the US Department of Agriculture's appeal against a recent court decision that has delayed the reopening of the US border to Canadian cattle imports....
- Danone's Q1: four things to learn
- Who will buy Danone's Stonyfield business?
- Column: Why snacking is the new meal
- Nestle Q1 update: four things to learn
- Opinion: Big Food needs to think radically
- Nestle to cut UK confectionery jobs
- PepsiCo affirms full-year target as Q1 hits mark
- Tyson to buy burger-to-entree firm AdvancePierre
- Tyson shops Sara Lee bakery, Kettle and Van's
- TreeHouse Foods sells soup, baby food units