The CSM Extraordinary General Meeting of Shareholders, held on 3 July, 2012, approved the proposed strategic transformation of CSM into a bio-based ingredients company.
CSM announced on 7 May, 2012 its intention to transform the company into a bio-based ingredients company comprising its Purac and Caravan Ingredients businesses. This will involve a divestment process for its North American and European Bakery Supplies businesses.
Purac is an innovative biotechnology company. It is the world market leader in lactic acid and its derivatives. Purac is leveraging its fermentation capabilities to expand beyond lactic acid into other bio-based alternatives for petrochemically based products.
Caravan Ingredients has leading positions in the North American markets for specialty ingredients including lactic acid based emulsifiers, functional blends containing enzymes, and fortification ingredients.
Background information:
CSM is the largest supplier of bakery products worldwide and is global market leader in lactic acid and lactic acid
derivatives. CSM produces and distributes an extensive range of bakery products and ingredients for artisan and
industrial bakeries and for in-store as well as out-of-home markets. It also produces a variety of lactic acid applications for the food, chemical and pharmaceutical industries. CSM operates in business-to-business markets throughout Europe, North America, South America, and Asia, generates annual sales of € 3.1 billion and has a workforce of around 9,700 employees in 28 countries. CSM is listed on NYSE Euronext Amsterdam. For more information www.csmglobal.com
Source: CSM
