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Business
The latest news in the world of business, mergers and acquisitions, partnerships, and companies financial results are a mine of information on successful business strategies in the Asia Pacific region.
News in brief
Taura to launch URC BakeFruit range in Asia
New Zealand’s Taura Natural Ingredients plans to launch a new range of concentrated fruit pieces for bakery and foodservice operators in Asia. The products will fit in the premium category...
Growth market
FMC to expand global production by one-third with new Thailand plant
Eager to move forward with supplying the fast-growing Asian market, food technology major FMC has broken ground on its major new microcrystalline cellulose (MCC) manufacturing facility in Rayong, Thailand, through which...
Done deals
Kraft signs up with Australian cheese major for pan-Asia distribution
Warrnambool Cheese and Butter Factory (WCB) and Kraft Foods Australia have announced the start of a long-term partnership under which Kraft will produce specially formulated cream cheese under WCB's Sungold...
China ‘our number one international priority’, says Hershey CEO
China will become Hershey’s number two market behind the US in the next five years and will get there through advertising, expanding distribution and new launches, according to the company’s...
Japanese flavours
Mitsubishi continues Far East food acquisition run with KKF purchase
Japanese beverage group Kirin has agreed to sell its domestic food flavouring unit, Kirin Kyowa Foods (KKF), to Mitsubishi Corporation for a reported ¥30.5bn (US$321m).
Will vitamin C price fixing victory constrain future Chinese cartel behavior?
A longstanding vitamin C price fixing case has reached conclusion with a $162 million judgment in the case involving four Chinese companies. While its a victory for the concept of...
News in brief
Sri Lanka to build world’s biggest PET plant
Sri Lanka looks destined to build the world’s largest polyethylene terephthalate (PET) packaging resin plant with an investment of over US$500m dollars.
US FIRM ACCUSES CHINESE ARMY OF GLOBAL IP CYBER ATTACKS
Coca-Cola accused as US-China cyber war of words escalates
Chinese authorities have accused Coca-Cola China of illegally mapping parts of Yunnan Province, while a high-profile US cyber-security company alleges that the People’s Liberation Army (PLA) is behind at least...
Beam Inc. Scotches talk of Teacher’s whiskey losing Indian No.1 spot
Beam Inc. insists to BeverageDaily.com that Teacher’s remains the bestselling Scotch Whiskey brand in India, despite press reports suggesting it has lost that position to Pernod Ricard’s 100 Pipers in...
South Korean OK for BASF's Scottish Omega-3 plant
South Korean regulators have cleared BASF to produce pharmaceutical grade omega-3 at its facility in Scotland.
Business head
Nestlé expects stratospheric growth from India operation
Nestlé’s regional head has revealed that he expects India to be one of the company’s top five markets by 2020.
IFF Opens New Flavors Facility in Guangzhou, China
International Flavors & Fragrances (IFF) has opened a new flavors facility in Guangzhou, China, as part of a $100m investment in Greater Asia as it looks to increase its presence in...
a2 Milk UK establishment costs offset A2 Corporation H1 sales increase
Costs relating to the establishment of the a2 Milk UK joint venture contributed to a H1 profits decrease for Australasian dairy processor A2 Corporation (A2C), the company has revealed.
Indian investigation
Cadbury to face tough questions over so-called “phantom factory” scam
Almost exactly a year ago, Cadbury India was showing off its position as the country’s fourth most admired company, according to Fortune magazine; but today the chocolate major is preparing...
Australian crops
Nufarm says goodbye to two major deals in just three months
Nufarm’s rocky start to 2013 continues with the Australian manufacturer and distributor of crop protection products announcing the end of its second long-term deal with a global agricultural company in...
Carlsberg bids $466m to take control off China’s Chongqing Brewery Company
Carlsberg says it is taking an ‘important step forward’ in China with a $466m offer for a controlling stake in Chongqing Brewery Company (CBC), in a move to double the...
News in brief
Krispy Kreme arrives in Taiwan
Krispy Kreme has signed an agreement with Huan Hsin to develop 10 new franchise locations in Taiwan over the next five years.
Herring caviar omega-3 form wins Oz-NZ distribution
Norwegian herring-sourced omega-3 specialist Arctic Nutrition has inked a distribution deal in Australia and New Zealand with Pathway International.
Australian research
Heading to the polls with new genetic horn test for cattle
The transition to a polled cattle herd–or one without horns–could soon be even faster with a new, highly accurate poll gene marker test from Australia that is due to become...
News in brief
Niutang keeping up with demand through fourth expansion in five years
Niutang Chemical, China’s leading producer of sucralose and aspartame, has announced that its core product lines of folic acid, TGIC, sucralose and aspartame saw an 18% increase in sales. As...
News in brief
Givaudan opens flavour innovation centre in Mumbai
Givaudan, the fragrance and flavour major, has opened a new innovation centre in Mumbai in a bid to expand its capabilities and resources in India.
United Spirits: India regulator gives green light for $2bn Diageo deal
The Indian Competition Commission (CCI) has approved Diageo’s purchase of a 53.4% stake in United Spirits (USL), saying that the £1.28bn ($2.04bn) purchase may boost the nation’s premium spirits market...
INDUSTRY VOICES: GUEST ARTICLE, HEAD OF AKTIEFOKUS CHINA, JACOB DE LICHTENBERG
Carlsberg mulls potential $1.2bn China M&A move in Chongqing
After a quiet beginning to 2013, M&A activity is heating up in China’s beer market, as Carlsberg said on Monday it was considering upping its stake in Chongqing Brewery, intensifying...
Far East M&A
Heinz' China sell-off is company's second loss-making deal in a decade
With reports flooding the wires that Heinz has agreed to sell its Chinese frozen food business, Long Feng Food, to Zhengzhou Sanquan Foods marks the second time in a decade...
Fonterra unveils NZ$100m UHT processing investment
Fonterra will invest more than NZ$100m ($82.4m, €62.8m) in a new ultra-high temperature (UHT) milk and cream processing plant in New Zealand in an attempt to meet growing Asian demand...
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