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Regina, Saskatchewan, July 19, 2018 –After another strong financial performance in 2017-18, Farm Credit Canada (FCC) has renewed its commitment to support growth and innovation in Canada’s agriculture and agri-food industry.

“Agriculture and agri-food remains one of the strongest and most vibrant sectors in Canada’s economy,” said FCC president and CEO Michael Hoffort, in releasing the federal Crown corporation’s annual report . “FCC had record demand for financing this past year as producers and agriculture business operators continue to invest in the industry by expanding their businesses, building new facilities and adopting technologies to increase their efficiency.”

In 2017-18, FCC grew its portfolio by 8.4 per cent to $33.9 billion, including $3.3 billion in new lending to young farmers. FCC also increased lending in the agri-food and agribusiness sector, supporting young entrepreneurs and helping business operators become leaders in job creation and innovation.

“Innovation spurs increased productivity and competitiveness,” Hoffort said. “We understand the needs of our customers across the agriculture value chain, from primary producers to the agribusiness and agri-food companies that create value-added products for Canadian and global markets.”

Looking ahead, FCC has set its sights on advancing its public policy role by contributing to a more sustainable and inclusive agriculture and agri-food industry. The federal Crown corporation is launching initiatives to advance mental health awareness in agriculture, developing financing and business support for women entrepreneurs, and exploring ways to involve more indigenous people and communities in the industry.

“By helping primary producers and agri-food operators achieve their full potential, FCC is enabling the industry to create more opportunities for a broader range of people who can bring fresh ideas and new energy to Canadian agriculture and agri-food,” Agriculture Minister Lawrence MacAulay said. “At the same time, FCC is contributing to our government’s ambitious goal of increasing agri-food exports to $75 billion by 2025.”

In 2017-18, FCC support programs were provided last year for Ontario and Quebec customers impacted by excessive moisture and, more recently, New Brunswick and Quebec maple syrup producers and Maritimes fruit and vegetable producers impacted by unfavorable weather this spring.

FCC also gave back almost $4 million through community investment initiatives, launched the Ignite summit for young farmers, offered a wide range of Ag Knowledge Exchange learning events attracting more than 15,000 participants and raised an equivalent of 7.2 million meals in conjunction with its like-minded partners through the FCC Drive Away Hunger tour in support of food banks across Canada. It also continues to support groups, such as 4-H Canada, Ag in the Classroom, the Canadian Agricultural Safety Association, STARS air ambulance service and numerous industry associations.

“Our role goes well beyond loan transactions,” Hoffort said. “We look forward to continuing our support for young and new entrants, enabling intergenerational transfers of family farms and supporting the growth of our customers and the industry.”

Other 2017-18 financial highlights include:

  • Net income of $669.9 million, to be reinvested in agriculture through funding new loans and developing agriculture knowledge, products and services for customers.
  • A dividend of $308.3 million paid by FCC to the Government of Canada.
  • A healthy loan portfolio with the allowance for credit losses remaining steady, reflecting a strong and vibrant industry.
  • Strong debt-to-equity and total capital ratios, indicating continued financial strength and an ongoing ability to serve the agriculture and agri-food industry.

FCC continues to provide free learning opportunities andeconomic insights through events, web, social media and various publications for all involved with the industry.

The FCC annual public meeting will be held in Truro, Nova Scotia on August 22. A full copy of the report can be found at www.fcc.ca/annualreport.

FCC is Canada’s leading agriculture lender, with a healthy loan portfolio of more than $33 billion. Our employees are dedicated to the future of Canadian agriculture and its role in feeding an ever-growing world. We provide flexible, competitively priced financing, management software, information and knowledge specifically designed for the agriculture and agri-food industry. As a self-sustaining Crown corporation, our profits provide a return to our shareholder and enable us to reinvest back into the industry we serve and the communities where our customers and employees live and work. Visit fcc.ca or follow us on FacebookLinkedIn, and on Twitter @FCCagriculture.

 
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HAMILTON, Mass., July 12, 2018 /PRNewswire/ -- Chew and Texture Technologies announced their strategic partnership combining the best of science and innovation in food product development. Chew is an innovation lab on a mission to democratize good food by developing radically more nutritious, sustainable, and enjoyable new food and beverage products. Texture Technologies' texture analyzers help food scientists assess physical characteristics of their products such as crunchiness, crispiness, and hardness. Working together, the two companies are fast tracking Chew's cutting-edge approach to food product development using texture analysis to rapidly test, refine, and iterate the texture of their products.

Product texture is an essential component of the food experience and product development. While some developers use a time-consuming hit-or-miss style of recipe tweaking to obtain a desirable product texture, Chew has opted for a more scientific and efficient approach using mechanical texture analysis. Chew's team of chefs and scientists can rapidly develop, test, and reformulate their products using Texture Technologies' tools and expertise to balance their culinary evaluation with scientific data. This approach helps further accelerate time to market, optimize the eating experience of end products, and rapidly meet changing consumer demands.

"At Chew we are constantly striving to create new solutions for the issues that arise in the food industry. To create products that are truly revolutionary, it is important for our team to have first-class equipment," said Adam Melonas, CEO/founder of Chew. "Through partnering with Texture Technologies, we'll be able to elevate and expedite our work in the lab and continue to strive for a new and improved generation of products in the packaged goods space."

"Texture Technologies is an innovator in food texture analysis for over three decades and works with large and small food companies to address their textural challenges. We are excited about the creativity and pace that Chew brings to the food development marketplace. We are pleased to lend our tools and expertise as they tackle new and interesting ideas in the food industry," said Marc Johnson, President of Texture Technologies.

 
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CHICAGO, July 9, 2018 /PRNewswire/ -- Provisur® Technologies, Inc., a global leader in innovative food processing technologies is pleased to announce it has entered into a partnership agreement with Dantech® Freezing Systems, headquartered in Aalborg, Denmark.  The companies will work together to incorporate Dantech's advanced freezing technology into Provisur's full line systems solutions.

According to Brian Perkins, Executive Vice President at Provisur Technologies: "Our partnership with Dantech represents a further enhancement in our ability to provide fully integrated processing lines that include state of the art technology at every step.  Dantech's full range of equipment including both spiral and impingement tunnel freezers are a perfect fit for Provisur as it boosts our ability to create customized solutions for every customer application."

Dantech is recognized around the world as a leading global specialist in freezing technology with over 30 years of experience and more than 2,500 global system installations in a broad range of applications. Henrik Ziegler, Owner and CEO of Dantech Freezing Systems states, "Our team is very pleased with this agreement and we are eager to get to work in demonstrating how customers can benefit from Dantech and Provisur's combined processing and freezing expertise."

 
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ST-HYACINTHE, QC, June 28, 2018 /CNW Telbec/ - As part of its continued growth, Olymel L.P.'s executives announced today the acquisition of all assets of Triomphe Foods, an agri-food company with a strong presence in the Quebec market and mass distribution network that is particularly known for its production of a wide range of deli meats and specialty hams. Triomphe Foods employs more than 250 people, and this transaction includes three production facilities, located in Laval, Blainville and Québec City respectively, as well as two distribution centres in Blainville and St-Léonard. The price of this transaction will not be disclosed.

Through this acquisition Olymel also becomes the owner of the brands Tour Eiffel, Chef Georges and La Belle Bretagne (hams and pâtés), Nostrano (Italian deli meats), Alpina (Eastern European deli meats), Bilopage (cretons and head cheese) and finally Mother Hen, a well-known brand specializing in baby food production including organic fruit and vegetable purées and meat purées. The production and marketing of all Triomphe Foods products and brands will continue, and the acquired company will have autonomous management.

"Olymel is proud to acquire a Quebec company renowned for the quality of its products and thus broaden our presence in several market segments, including baby food in particular. I would like to extend a warm welcome to all Triomphe Foods employees who will be adding their expertise to that of Olymel's teams. Through this acquisition and our own brands, Olymel will now have an even wider and more diversified range of value-added products, enabling us to serve a broad customer base, in addition to increasing our production capacities," said Réjean Nadeau, President and CEO of Olymel.

This is the second major acquisition for Olymel in less than a month. On June 14, the company announced the purchase of all the shares of Pinty's Delicious Foods Inc., an Ontario poultry slaughtering and processing company specializing in fully cooked and other related products, subject to Competition Bureau approval. Olymel continues its expansion in Quebec and elsewhere in Canada, in both the fresh and processed pork and poultry sectors. Since 2015, Olymel has invested more than $800 million in its growth, resulting in the creation of more than 2000 new jobs.

 "Triomphe Foods is the result of my family's passion for well-made products and high-quality deli meats. This passion has also led us to bring together fantastic businesses to make a larger and stronger one. Today, we are pleased to see that the great development potential of Triomphe Foods will be in the hands of other Quebec entrepreneurs who have made Olymel a world-class company. Olymel's experience will be valuable and I am confident that our employees will continue to contribute to the success of their new company, as they have always done for Triomphe Foods. I would like to reiterate my gratitude and confidence in them," said Mélissa Latifi, President and CEO of Triomphe Foods.

 

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“PROCESS THIS” news from the BC Food Processors Association