A delegation from General Mills Inc. (NYSE: GIS) is in Israel to attend the Manufacturers Association of Israel's Food Industries Association conference. Sources inform ''Globes'' that the executives afterwards met executives of Israeli food companies to consider possible collaborations. Meetings will also be held tomorrow.
General Mills is a Fortune 500 company, and one of the world's largest food companies, with a market cap of $25.2 billion and an annual turnover of $14.7 billion. Its brands include Hagen Dazs ice cream, Pillsbury, Yoplait, and Cheerios.
General Mills told the Israel Export and International Cooperation Institute that it is interested several areas of Israel's food industry. It is looking for food companies with innovative technologies and/or very high quality products, new food additive prices. It is also looking for Israeli firms which are interested in investing in manufacturing plants and proprietary technologies. The company is also interested in Israeli companies that want to collaborate on buying know-how for food manufacturing plants in the US, and it wants non-gluten products (especially pasta) and lactose-free products with a high quality source of the protein.
The General Mills executives will meet representatives of companies throughout the food processing chain, from makers of ingredients to producers of finished food products. Companies include Frutarom Industries Ltd. (TASE: FRUT; LSE:FRUT; Pink Sheets:FRUTF), Carmit Candy Industries Ltd. (TASE: CMRT), Solbar Industries Ltd. (TASE: SLBR), All Kinds of Food (2005) Ltd., Lahmi Bakeries Ltd., Bustan Abraham Ltd., Ba'Emek Advanced Technologies Ltd., and Nutrigal Ltd.
Published by Globes [online], Israel business news - www.globes-online.com - on June 22, 2010
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