June 1, 2004
In a series of financial announcements, MGP Ingredients, Inc., has authorized a two-for-one split of common stock to be distributed as additional shares. In addition, the MGP board of directors also approved $5.5 million in capital improvement projects to expand production and packaging capabilities at their Kansas City, Kan., facility. Meanwhile, MGP reported significantly improved financial results for the third quarter of fiscal 2004 compared with the same period last year. The company also raised its earnings guidance for all 12 months of fiscal 2004 to between $1.30 and $1.35 per share from a previously announced range of $1.00 to $1.10. Company performance plus expectations of a strong fourth quarter were cited as reasons for the adjusted earnings guidance.
Kerry Americas’ new Web site is designed to educate and enlighten its customers on not only what’s new in Kerry’s business and technologies, but also on the biggest trends shaping the food industry. The Web site, www.kerryamericas.com, opens with the premise: All Great Food Starts with a Big Idea. Each workday, a specialist from Kerry shares his or her opinions about the trends shaping the industry, from indulgent healthy treats to value-added comfort foods.
Product Dynamics, a division of RQA, Inc., has announced a major expansion to its Orland Park, Ill., facility. The expansion will increase the size of the operation from 6,000 sq. ft. to 38,000 sq. ft. and adds new consumer and sensory testing areas. The facility will also be home to the laboratories of RQA’s new food forensics division, an analytical service that identifies contaminants in foods. The expansion will bring about 85 new jobs to the Orland Park area when completed in early 2005.
Rondo Inc. and Doge Food Processing Machinery, a subsidiary of Seewer AG, Burgdorf, Switzerland, celebrate the opening of their new Competence Center in Schio, Italy. The center combines a conference, demonstration and research facility adjacent to Doge’s existing Schio-based offices and facility. The center is to become a central depository for knowledge and a way to share Doge’s expertise in industrial make-up equipment. Plans to close their demo facility in the U.S. are underway.
Suppliers on the move
Mark Dunbar and Mike Dunbar have both been promoted to the position of vice president of Dunbar Systems, Inc. Continuing their roles with industrial system sales, they will assume the added responsibility of assisting in company direction and growth. Dunbar also announced the promotion of Jim Klein to director of project management and James J. Diver, who joined the company as sales engineering manager.