Find previous Press Releases in the CSM Archive
Select year 2010 2009 2008 2007 2006 2005 2004 2003 2002
Select Language Dutch English
Purac has signed a contract to participate in a consortium that will develop a process to produce feedstock from cellulosic waste derived from the pulp and paper industry.
CSM nv announces that 1,020,750 shares have been issued as a result of issuing its stock dividend. The conversion factor of 1/28 per CSM share was calculated on the basis of the volume weighted average share price (€ 24.75) on 13, 14 and 17 May 2010.
CSM nv announces that its stock dividend over calendar year 2009 has been set at 1/28 per CSM share. This has been calculated on the basis of the volume weighted average share price on 13, 14 and 17 May 2010.
CSM announced that it will replace its product range of synthetic AZO colorants with a selection of natural and synthetic non-AZO colorants in the European market by July 2010.
The CSM General Shareholders Meeting held on April 29, 2010 approved the proposed dividend of € 0.88 per common share for financial year 2009. The meeting also approved the appointment of Mr R.H.P. Markham as member of the Supervisory Board effective January 1, 2011 and the re-appointment of Mr N.J.M. Kramer (CFO) as member of the CSM Board of Management.
CSM substantially improved Q1 EBITA compared to last year, with EBITA more than doubling to € 40.5 million. EBITA margins recovered to 6.3%. The improvements compared to 2009 Q1 resulted from higher volumes at Purac and a better raw material cost base. The first quarter of 2010 also saw important milestones in our strategic journey for growth with the acquisition of Best Brands and the start of the construction of our lactide plant in Thailand.
CSM today announces that it has completed the acquisition of Best Brands, one of the largest premium bakery manufacturers in the US, effective as of March 19, 2010.
CSM improved EBITA substantially despite the recessionary environment. The effects of lower sales volumes have been compensated by cost savings, recovery of margins through lower cost of raw materials and continued improvements in operational efficiencies. Strict cash management generating free cash flow of € 277.2 million, resulted in our net debt falling to € 328 million. CSM's balance sheet strength allows for investment in a new lactide plant in Thailand to fuel our organic growth as well as the announced acquisition of Best Brands in North America.
CSM's subsidiary Purac signed today a research contract to participate in the research program of BE-Basic; a consortium of international knowledge institutes, the Dutch government, global industry and financial partners. The research program aims at developing an economy based on renewable resources.. Purac is a partner in this consortium as it develops new sustainable building blocks for the chemical industry.
CSM today announces that it has reached an agreement to acquire Best Brands, one of the largest premium bakery manufacturers in the US market, for cash consideration of $510 million. The acquisition of Best Brands creates the undisputed market leader in the North American bakery supplies market with total sales in excess of $2.3 billion. The acquisition strengthens CSM’s global leadership position in the segments and product categories that CSM has targeted for future growth, particularly in the in-store bakery market. The transaction, which is subject to regulatory review, is expected to be completed in March 2010.
CSM announces that Reinoud Plantenberg has decided to step down from the CSM Board of Management at the end of his term at the annual general meeting of shareholders (AGM) on April 29, 2010.