CPC spins off oil arm, changes name to Best Foods

Article Abstract:

CPC International had a 0.5% decline in sales in the third quarter worth $2.024 billion but recorded a 4.3% growth in net profits of some $146.6 million. CPC management have decided to change the name of the company to Best Foods and to dispense with the corn oil refining part of the business. The corn refining division reported a 2.1% fall in operating profits, for the third quarter of 1997. CPC Europe reported third quarter sales falling by 3.3% whereas Latin America branded food sales increased by 3%. Sales were affected by the strong dollar compared to weak European currencies.

Wet corn milling, Refined Corn Oil, Consumer goods industry, Bestfoods, Corn oil, Plant products industry, CPC

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UK catching up on capital investment

Article Abstract:

A report by Company Reporting Limited found that food manufacturers in the United Kingdom spent on average GBP4,000 per employee in capital equipment in 1997. The UK's expenditure compares to that of the international average of GBP6,000 per employee. Usually, the UK is about half the international average, but some companies have invested in new equipment more quickly than before. An industry observer stated that expenditure on new plant, equipment and property is a key driver of both growth and competitiveness through process innovation.

Comment:

UK: Study finds that UK food industry invested GBP4000 per employee in capital equipment in 1997

United Kingdom, Capital expenditures, Equipment and supplies

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Attractions and problems of investment in Poland

Article Abstract:

Although investment in Poland is becoming an increasingly attractive option to foreign business, potential investors should beware of high import taxes and complex bureaucratic procedures, according to Master Foods Polska's John Currah. Currah, who spoke at the 'Agribusiness and the Food Industry in Central Europe' conference in Warsaw, gave details of how the company set up a greenfield production site in Poland.

Poland, Investments, Master Foods Polska

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