November 27 2015, David R Brown
The Ter Group set to spin off its food and animal feed business into a new subsidiary, TER Ingredients
The Hamburg-based TER GROUP is set to spin off its food and animal feed business to a new, dedicated subsidiary. From 1 January 2016, the TER Ingredients GmbH & Co. KG will take over the existing Food & Feed business from the TER HELL & Co. GmbH trading company. With this reorganization, the TER GROUP is responding to the above-average growth in its Food & Feed business unit which in 2014 achieved revenues amounting to €65 million.
We will meet the demands of our suppliers more closely and establish even greater independence for this business unit regarding future decisions
Oliver Zimmermann
CEO of TER Chemicals Distribution Group
“By founding our own new company to focus on ingredients, we will meet the demands of our suppliers more closely and establish even greater independence for this business unit regarding future decisions“, says Oliver Zimmermann, CEO of TER Chemicals Distribution Group and Managing Director of the new company TER Ingredients. The second Managing Director at TER Ingredients will be Benjamin Lindenau, who previously worked as Business Unit Manager for Food & Feed. “We have ambitious growth plans for the future and we hope to achieve a faster and to a greater extent far-reaching implementation of these plans with our new company”, says Lindenau.
TER Ingredients will be run as a new company in the TER Chemicals Distribution Group. All the staff from the business unit will move to the new Hamburg-based company, which will be a 100%-owned subsidiary of TER HELL & Co. GmbH from 1 January 2016. The company will assume responsibility for the sale of selected products in its role as a new, specialized partner that focuses fully on the needs of food manufacturers and animal feed producers. These products include thickening agents, emulsifiers, vitamins, antioxidants, preservatives, amino acids, sweeteners and aromas. For more information see www.teringredients.com
In a separate annoucement, the TER GROUP has reported that it has recently signed a contract with Lanxess for the distribution of industrial biocides in the Germany and Benelux.
About TER Group
The TER GROUP is a leading distributor, trader and manufacturer of chemical raw materials as part of the parent company TER HELL & CO GMBH, founded in 1908 with headquarters in Hamburg. The TER GROUP comprises the majority-owned companies of the TER Chemicals Distribution Group, TER Plastics Polymer Group and substantial minority stakes in HSH Chemie Distribution Group and Paramelt B.V. Together, they provide a presence of more than 30 companies in Europe, the USA and Asia, which supply the processing industry. The TER GROUP is a family-run company that is now into its third generation of management in Hamburg. With a workforce of 604 employees worldwide, the TER GROUP generated a turnover of €525 million in 2014.
Source(s): TER Group Press Release
Further Information
Visit: http://www.terchemicals.com