News Feed: Functional Foods
Functional Foods Investment News – provided by ShiftCentral
2012-10-29 - Germany-based Dr. Oetker, a frozen food maker, has announced the construction of a new facility in Ontario, the latest company to join the Ontario Food Cluster. The company will employ 120 full-time people and will contribute an estimated $26 million a year to the province’s economy.
2012-09-20 - A Saskatchewan researcher discovered that a naturally occurring soil fungus can eliminate dandelion growth. Karen Bailey, a research scientist with Agriculture and Agri-Food Canada in Saskatoon, has been exploring the fungus called Phoma macrastoma, which kills broadleaf weeds without having any effect on turf grass. The bio-pesticide has now been registered in Canada and could be on the market in granular form by 2014.
2012-09-17 - Cargill announced plans to build a canola refinery at its Clavet, Saskatchewan, canola processing facility. Construction is expected to be completed in time for the 2014-15 canola harvest. The Clavet canola processing facility was built in 1996 and was expanded upon in 2009. The largest of its kind in Canada, the facility is capable of processing 1.5 million metric tons of canola oil per year. The impending refinery will add up to 30 jobs, boosting the total Cargill Clavet complex to nearly 200 employees.
2012-06-14 - The board of Norway-based fertilizer company Yara International has approved expansion projects, including the company's Saskatchewan facility where 1.3 million tonnes of urea capacity will be added. The expansion will comprise an integrated world scale ammonia and urea line with a urea capacity of approximately 1.3 million tonnes per annum. The project is approved for a fast-track process, with expected start-up in second half 2016.
2012-06-07 - A Miami-based private equity fund has a friendly deal to buy Winnipeg-based Arctic Glacier, which distributes packaged ice to retailers throughout Canada and the U.S. Arctic Glacier has been operating under court-protection from creditors and recently received approval to settle a class-action suit brought on behalf of its investors -- who would be entitled to a share of $13.75-million in payouts. Arctic Glacier said its secured lenders would be repaid in full, and all its employees will be offered work and head office will stay in Winnipeg.
2012-05-21 - Netherland's-based Royal DSM announced a deal to buy large fish oil supplier, Ocean Nutrition Canada, for $540 million. DSM is a life sciences and material sciences company that has entered into a definitive agreement with Clearwater Fine Foods and funds to acquire Ocean Nutrition Canada. The transaction is expected to be EPS accretive as from 2013, with accelerated revenue growth resulting from expanded distribution, marketing, and product development. The deal is expected to close in H2 2012, and is subject to customary conditions.
2012-03-19 - Commodities trader Glencore, backed by partners Richardson International and Agrium, has agreed to buy Canada’s Viterra in a cash deal valuing the country’s largest grain handler at $6.1 billion. Glencore said the deal had been unanimously approved by Viterra’s board. The price, broadly in line with market expectations after days of speculation, amounts to a 48% premium over Viterra’s closing price on March 8, the day before it announced it had received expressions of interest. Glencore, which is in the throes of a long-awaited $36-billion takeover of miner Xstrata, already markets and produces crops as well as metals, minerals and oil, but it has earmarked agricultural commodities as an area for growth.
2011-09-21 - St.Louis-based Bunge North America announced plans to increase the capacity at its canola processing plant in Fort Saskatchewan, Alberta. The proposed project would more than double Fort Saskatchewan's current capacity of 850 metric tons a day. "Expanding and upgrading our capacity in Canada is a natural way to grow Bunge's North American business as domestic and export demand for both canola oil and meal continues to increase," said Soren Schroder, president and CEO of Bunge North America.
2011-07-27 - Food manufacturer Dr. Oetker Canada, who's parent company is based in Germany, is expanding into Southwestern Ontario, providing opportunities for Ontario farmers and creating 430 direct and indirect jobs in London. Dr. Oetker Canada is building its first North American frozen pizza production facility in the area. The expansion project will help the company source over 24 million pounds of ingredients from Ontario farmers and food processors and produce about 50 million frozen pizzas per year for the Canadian and U.S markets.
2011-07-18 - Bakkavor Foods Canada, an Iceland-based food supplier, announced it will expand its distribution in Ontario and create 50 new jobs in Cobourg. The company is creating a fresh food manufacturing centre for Canadian food retailers. The company has recently introduced its product line to a number of stores in Ontario and says it will continue to expand into 2012.
2011-07-05 - Canada and the E.U. have reached an agreement to recognize each other's organic standards and laws, after years of negotiation. In 2009, the Canadian Food Inspection Agency and the United States Department of Agriculture signed the first "organic equivalency arrangement," which opened the significant U.S. organic market to Canadian exports. The global organic trade is now estimated at over $55 billion per year, with 96% of this represented by the U.S. and EU markets. Canada is now the only country in the world able to deal directly with these two key markets through its domestic standards.
2011-06-27 - Agriculture Minister Gerry Ritz wrapped up another series of trade missions to advance Canada's agriculture objectives, this time to the first G20 Agriculture Ministers' Meeting, the Food & Agriculture Organization of the United Nations, and the Global Research Alliance Summit. "Our Government is working to ensure that Canada's agriculture industry remains competitive and innovative," said Minister Ritz.
2011-06-08 - The economic impact of food in Canada extends far beyond the contribution of just those industries that grow, process and distribute it, according to a report by The Conference Board of Canada. The food sector is directly responsible for generating more than 9% of Canadian GDP. In all, 2.3 million jobs in Canada – approximately 13% of employment — are dependent on the food sector, incorporating businesses as diverse as restaurants, grocery stores, retail shops, distribution services, food manufacturing and primary producers. Most industries in Canada are, to some extent, involved in the process of growing, processing, transporting and distributing food.
2011-06-07 - Canada and Russia renewed their commitment to build on the countries strong ties and agreed to continue working together to increase bilateral trade for the benefit of farmers. Over the last three years Russia's annual average imports of livestock and genetics from Canada were worth $26 million in a potential market of $235 million and Russia's interest in Canadian products and expertise keeps growing.
2010-10-17 - Multinational agri-food firm Bunge has kicked off plans to expand its processing plants in Western Canada with a project to more than double its canola crush at Altona, Man. Bunge's North American arm announced an expansion project that will see the Altona plant's processing capacity boosted to 2,500 tonnes per day, up from 1,100 currently. The expansion is expected to go on line by harvest time in 2012.
2010-10-03 - The Honorable Mr. Gerry Ritz, Minister of Agriculture and Agri-Food, Government of Canada had a meeting with Shri Subodh Kant Sahai, Honorable Minister of Food Processing Industries to discuss a joint venture between the two countries in Food Processing sector. Sahai conveyed the need of India for technology upgradation in food processing sector and informed the Canadian Minister about active participation of Canadian companies in India.
2010-08-10 - Recognized for its product quality and environmentally sustainable manufacturing practices, Frito Lay Canada, a division of PepsiCo Canada ULC, is investing more than $2 million in its New Minas operations to upgrade production equipment and make the facility more environmentally sustainable. Frito Lay New Minas was recently recognized as the first Canadian facility to send less than 1% of its waste to landfills.
2010-08-05 - The Honourable Gerry Ritz, Minister of Agriculture, announced a round of bilateral technical discussions between the Canadian Food Inspection Agency and Colombia's Instituto Colombiano Agropecuario. A meeting in the coming weeks, will map out the resolution of the remaining outstanding technical issues between the two countries. For more information, please visit the Canada-Colombia Free Trade Agreement website.
2010-07-14 - Monsanto Canada, part of St. Louis-based Monsanto Co., says it will invest more than $14 million to expand and upgrade its existing hybrid canola seed manufacturing plant in Lethbridge, Alberta. The company is investing in its canola seeds business at a time when farmers are planting more of the plant, which is used to make healthy cooking oil and livestock meal and as a raw material for biofuel.
2010-06-14 - Canadian lawmakers recently approved a free trade agreement with Colombia. This move may give its agricultural producers an advantage over U.S. competitors in the Latin American country. Canada's House of Commons voted 188 to 79 in favor of the accord, which now moves to the Senate for final approval. "In adopting this free trade agreement, Canada will be in a very strong competitive position vis-à-vis our other competition around the world and this will mean a great deal to our agricultural sector," Canadian Trade Minister Peter Van Loan said.
2010-06-09 - Broyce Jacobs, Parliamentary Assistant for Alberta Agriculture and Rural Development will promote Alberta's agriculture and food trade interests at a conference hosted by the Canadian American Business Council on June 10 in Washington, D.C. The conference brings together policy makers and business leaders from Canada and the U.S. to engage in high-level discussions on the current economic climate and issues that may be impacting our integrated North American market.
2010-06-07 - India signed a memorandum of understanding (MoU) with Canada for co-operation in processing food, also involving the exchange of students and faculty. Signed by the Food Processing Minister Subodh Kant Sahai and the Canadian Education and Law Minister Rob Norris, the cooperation will offer research and training.
2010-05-05 - The government of Ontario is helping Nestlé Canada, a business segment of Switzerland-based Nestlé, improve production, create jobs and strengthen the highly established local food industry sector in eastern Ontario. Nestlé Canada said it will invest over $14.6 million to purchase and install new equipment along with food safety items needed for the equipment. The investment will help create 13 new jobs and retain 298 existing positions.
2010-04-25 - A new report by the Department of Fisheries and Oceans says Canada's aquaculture industry generates $2.1 billion for the economy each year and contributes thousands of jobs in coastal and rural communities. The report also found aquaculture production more than quadrupled between 1990 and 2006. Of the $2.1 billion generated in 2007, more than $960 million was triggered by B.C. fish farms and about $415 million was generated in New Brunswick, while Ontario had the third-most at just under $170 million.
Mazzetta Company of Illinois will open a fish processing plant in Beach Point, Prince Edward Island, which could create up to 165 jobs. Mazzetta is a frozen seafood distributor, specializing in shrimp, but has been buying processed P.E.I. lobster. The company wants to process 1.5 million pounds of P.E.I. lobster and ship in even more from Nova Scotia and Maine.
A delegation of 22 businesses and organizations from Atlantic Canada’s seafood industry will head to the International Boston Seafood Show. The annual industry trade show attracts 16,000 top-tier buyers and sellers of seafood from more than 90 countries. The trade mission delegation includes representatives from fisheries, seafood and aquaculture companies and organizations from across Atlantic Canada. The delegates will exhibit in one Atlantic Canadian pavilion to attempt to gain international exposure for their seafood products and services.
Saskatchewan's Agriculture Minister Bob Bjornerud will travel to the United States January 27-29 to raise awareness of Saskatchewan's agriculture industry. Bjornerud will meet with grains and meat processing companies in Colorado, Iowa and Minnesota to highlight Saskatchewan's potential and promote investment opportunities in the province.
Organizations from Atlantic Canada are headed to India to drum up investment from one of the world's largest emerging markets. The trade mission will bring leaders from the life sciences, digital media, education and food processing sectors to the Indian marketplace. The delegation will target India's upper-and middle-class population, which is as big as the population of the U.S.
The Government of Alberta will focus on promoting the province's agricultural interests and participating in discussions on cross-border issues at the Legislative Agricultural Chairs (LAC) Summit and the State Agricultural Rural Leaders Board meetings in Orlando, Florida. The annual event brings together U.S. state legislative agriculture chairs and provincial ministers of agriculture to broaden understanding and cooperation between the U.S. and Canadian jurisdictions. The summit will cover a variety of agriculture issues affecting both sides of the Canada-U.S. border, including agricultural trade, food safety regulations, water supply, invasive plants, and rural development.
The Government of Canada has joined an international network as a founding member of the Global Research Alliance on Agricultural Greenhouse Gases to drive agricultural research that will deliver practical benefits for both the environment and Canadian farmers. Agriculture and Agri-Food Canada will invest up to $27 million towards the Global Research Alliance on Agricultural Greenhouse Gases. In addition to environmental benefits, reducing greenhouse gases emissions in agriculture brings direct economic benefits to the farm gate, including increased efficiency of livestock production and nutrient use, as well as more economical land use.
Danish company, Aqualife Logistics, is ramping up its operations in Halifax to increase exports of live shellfish from Nova Scotia to expanding European markets. Aqualife is making Halifax its transportation hub and is working with a local trucking/logistics firm to either use present infrastructure or erect its own facilities. The company also wants a direct service out of Halifax to Europe.
Attracted by the Canada's low political risk and fertile fields, Hancock Agricultural Investment Group, based in Boston, decided its first Canadian purchase would be an 1,100-acre patch of land in Victoriaville, Quebec that it called "one of the most highly productive properties in the industry." The company stressed its intentions to stay in Canada and plans further expansion. According to a report by London-based Knight Frank, Canadian farmers can expect a flurry of international interest in the coming months as investors bet that low commodity prices will rebound. Canadian farmland is still affordable by global standards.
American company Ocean Spray has begun construction of a cranberry farm in eastern New Brunswick. The company is expected to invest $90 million to develop the farm. The company's CEO said New Brunswick offered the ideal location growing environment. The project could potentially create more than 100 jobs for the region, with the potential for future growth as the cranberry yield increases.
A Danish company, specializing in the shipment of live seafood, is the focus for new business at the Port of Halifax. Aqualife Logistics, which has developed a process to move live seafood, specifically shellfish, will develop a new service out of Halifax that will deliver product to central Europe. Aqualife brings the technology to move live seafood such as lobster, mussels, crab, mussels, etc. The initial plan is for Aqualife to operate the service with a local partner and then possibly build a facility in Halifax.
Spanish investor Cascajares will begin its operation in Saint-Hyacinthe, Quebec. An employee has been recruited and will be working from the new office of Technopôle de Saint-Hyacinthe. The Centre for Research and Development will be working in collaboration with a Spanish food engineer along with an accountant from Cascajare who will move to Saint-Hyacinthe by January 2009 for the marketing and adaptation of the Spanish products on the North American territory.
Business New Brunswick has provided a $200,000 loan guarantee into preferred shares to Technico Technologies Inc., a seed-potato producer, for the company to invest in its future. The partnership with the company is to help it be more productive, be more competitive, and be more successful in the province. Technico Technologies Inc. is an Australian company that delivers supply-chain solutions to the potato industry, producing disease-free seed potatoes in less than half the time of traditional processes. The company has other operations in Canada, Australia, China, India, Africa, and the Middle East.
Canada's food-manufacturing industry should see steadily rising profits over the next four years according to a Conference Board of Canada report. Canada's food-manufacturing industry is expected to see profits of $3.18 billion this year, up from $3.02 billion last year, the board said. It's expected to rise to $3.34 billion in 2009, $3.47 billion in 2010, $3.62 billion in 2011, and $3.77 billion in 2012. The food-manufacturing industry should also be able to overcome rising prices from the farm, the report said.
Japan-based Mitsui & Co plans to supply U.S. consumers with rapeseed oil from a plant it and a unit of the Switzerland-based Louis Dreyfus Group are to build in Canada this year. The plant, to be located at Yorkton, Saskatchewan, in Canada's main canola-growing region, will be able to process about 350,000 tonnes of canola oil and 500,000 tonnes of meal a day when operations start by summer next year. No additional details were available.
Massachusetts-based Twin Rivers Technologies’ Quebec subsidiary has announced it will build a new $153 million canola seed and soybean crushing plant in the Becancour industrial park. The new plant will create 80 full-time jobs and generate annual sales of $450 million. Twin Rivers Technologies - Entreprises de transformation de graines oléagineuses du Québec (ETGO) will also refine canola, soy and palm oil at the facility.
Wimm-Bill-Dann Foods OJSC, a Russian producer of health foods, has announced the launch of production of its brands in Canada. In partnership with Canadian juice company Wonder Berry, Wimm-Bill-Dann is initiating the making of mors, a traditional Russian juice-based beverage made from fresh berries, in Canada. The drink is being produced with local ingredients at a factory in Toronto. Exported Wimm-Bill-Dann mors is already popular under the Wonder Berry brand in the countries of Europe, the Americas and Central Asia.
Kelloggs Canada, a subsidiary of Michigan-based Kellogg Company, has announced it is investing $100 million in the construction of new breakfast cereal manufacturing plant in Belleville Ontario. The facility is expected to create 100 jobs and open sometime in 2007. Kellogg's President for North America, Jeff Montie, said the company decided to locate in Belleville over numerous other sites across North America. "The Belleville site was the right choice for a number of reasons including convenient transportation routes and total cost to manufacture," he said.
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