Press Releases https://www.tateandlyle.com/category/press-releases en Tate & Lyle PLC Statement of Half Year Results for the 2021 Financial Year https://www.tateandlyle.com/news/tate-lyle-plc-statement-half-year-results-2021 <span>Tate &amp; Lyle PLC Statement of Half Year Results for the 2021 Financial Year</span> <span><span lang="" about="/user/82496" typeof="schema:Person" property="schema:name" datatype="">mattwagg</span></span> <span>Thu, 11/05/2020 - 06:10</span> <div class="field field--name-field-date field--type-datetime field--label-hidden field--item"><time datetime="2020-11-05T12:00:00Z">05 Nov 2020</time> </div> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p><em>We have had a robust first half performance. Read more about our half year performance below.</em></p> </div> <div class="field field--name-field-category field--type-entity-reference field--label-hidden field--item"><a href="https://www.tateandlyle.com/category/press-releases" hreflang="en">Press Releases</a></div> <div class="field field--name-field-story-description field--type-entity-reference-revisions field--label-hidden field--item"> <div class="paragraph paragraph--type--wysiwyg-and-block-reference paragraph--view-mode--default"> <div class="field field--name-field-in-wysiwyg2 field--type-text-long field--label-hidden field--item"><p>Movements in adjusted results are shown in constant currency throughout this statement.</p> <div alt="STATEMENT OF HALF YEAR RESULTS For the six months to 30 September 2020" data-embed-button="tal_embed" data-entity-embed-display="media_image" data-entity-type="media" data-entity-uuid="c7affa6b-8fcc-40b4-a984-5a5a53163392" data-langcode="en" title="STATEMENT OF HALF YEAR RESULTS For the six months to 30 September 2020" class="align-center embedded-entity"> <img src="/sites/default/files/TL-HY-statement-table1.jpg" alt="STATEMENT OF HALF YEAR RESULTS For the six months to 30 September 2020" title="STATEMENT OF HALF YEAR RESULTS For the six months to 30 September 2020" typeof="foaf:Image" class="img-responsive" /></div> <h3>Key highlights</h3> <p> </p> <ul><li>Robust first half performance <ul><li>Food &amp; Beverage Solutions revenue and profit<sup>2</sup> higher</li> <li>Sucralose softer demand, profit2 lower</li> <li>Primary Products profit<sup>2</sup> steady, helped by strong Commodities</li> </ul></li> <li>Strong operational execution and cost discipline underpins financial performance </li> <li>Priorities to ‘Sharpen, Accelerate and Simplify’ continue to support business progress </li> <li>Texturant portfolio strengthened with agreement to acquire speciality tapioca food starch business </li> <li>Balance sheet remains strong with access to US$1.4 billion liquidity </li> <li>Purpose-driven response to Covid-19 keeping employees safe and customers served</li> </ul><p> </p> <h3>Financial highlights</h3> <p> </p> <ul><li>+9% increase in Food &amp; Beverage Solutions profit<sup>2</sup> at £98m; volume in-line and revenue +1% higher</li> <li>(12%) lower Sucralose profit<sup>2</sup> at £25m</li> <li>Primary Products profit<sup>2</sup> at £83m in line with the comparative period <ul><li>Sweeteners and Starches profit<sup>2</sup> £(11)m lower; Commodities profit<sup>2</sup> +£11m higher</li> </ul></li> <li>+21% increase in share of profit after tax of joint ventures including £4m foreign exchange benefit in Almex</li> <li>(4%) decrease in Group statutory profit before tax</li> <li>+3% increase in adjusted profit before tax</li> <li>+9% increase in adjusted diluted EPS <ul><li>Benefitting from joint venture foreign exchange and lower effective tax rate of 16.6% (2019: 20.9%)</li> </ul></li> <li>+£23m higher adjusted free cash flow at £194m</li> <li>Net debt to EBITDA ratio 0.7x</li> <li>Interim dividend maintained at 8.8p per share</li> </ul><p> </p> <p><strong>Nick Hampton, Chief Executive, said: </strong></p> <p>"The first half of the year demonstrated the strength, resilience and agility of our business with Group profit higher, revenue growth in Food &amp; Beverage Solutions and the interim dividend maintained.</p> <p>This performance reflects the outstanding commitment of our people who have kept our operations running and our customers served through the pandemic. Our purpose of Improving Lives for Generations remains at the heart of our response to Covid-19, inspiring our people to look after their colleagues, families and local communities. I am very proud of, and humbled by, their resilience in the face of so many challenges.</p> <p>Both business divisions performed well supported by excellent operational performance and rigorous cost discipline. Primary Products delivered steady earnings despite a significant reduction in out-of-home consumption in North America. Food &amp; Beverage Solutions delivered revenue and profit growth as our technical capabilities in sweetening, texture and fibre fortification supported customer demand for products that are lower in sugar, calories and fat, and with added fibre.</p> <p>We continue to make strategic progress. We signed an agreement to acquire a speciality tapioca food starch business in Thailand expanding our customer offering of plant-based, clean-label texturant solutions. Our new business and innovation pipelines remain healthy, New Products revenues are up 8% and we continue to find creative ways to use technology to support and connect with our customers.</p> <p>While we are pleased with our progress in this challenging environment, considerable uncertainty remains. The duration and severity of the pandemic is unclear, out-of-home consumption remains below pre-pandemic levels and the annual sweetener contracting round is still to be completed. Given this uncertainty, we are not issuing guidance for the current year ending 31 March 2021. We will update stakeholders of our progress in our third quarter trading update on 28 January 2021.</p> <p>In May we set out four priorities for the year – to look after our colleagues and communities, strengthen our relationships with customers, continue to progress our strategy and maintain our financial strength. We are making good progress against these priorities and they remain our near-term focus. We are also working to adapt to, and embrace, the new business environment and ways of working and are taking the necessary steps to invest in Tate &amp; Lyle to ensure we emerge from this period an even stronger business. "</p> <p> </p> <p><em>1 The adjusted results for the six months to 30 September 2020 have been adjusted to exclude exceptional items, amortisation of acquired intangible assets and the tax on those adjustments. A reconciliation of statutory and adjusted information is included in Note 2 to the Financial Information. Growth percentages are calculated on unrounded numbers. Changes in adjusted performance metrics are in constant currency.<br /> 2 Adjusted operating profit</em></p> <hr /><p><strong>For more information contact Tate &amp; Lyle PLC:</strong></p> <p>Christopher Marsh, VP Investor Relations<br /> Tel: +44 (0) 20 7257 2110 or Mobile: +44 (0) 7796 192 688</p> <p>Nick Hasell, FTI Consulting (Media)<br /> Tel: Mobile: +44 (0) 7825 523 383</p> </div> </div> </div> <div class="field field--name-field-downloads-border-title field--type-string field--label-hidden field--item">Download the Results</div> <div class="field field--name-field-downloads field--type-entity-reference-revisions field--label-hidden field--items"> <div class="field--item"><div class="paragraph paragraph--type--related-downloads paragraph--view-mode--default" id="paragraph-28266"> <div class="inline-content inline-icon"> <div class="field field--name-field-file-icon field--type-entity-reference field--label-hidden field--item"><article role="article" about="/content/icon-black-document" class="icon full clearfix"> <h2 class="hide"> <a href="/content/icon-black-document" rel="bookmark"><span>Icon-Black-Document</span> </a> </h2> <div class="content"> <div class="field field--name-field-image field--type-image field--label-hidden field--item"> <img src="/sites/default/files/styles/icon_48px_width/public/Icon-Black-Document-2x.png?itok=CIH_sV33" width="36" height="48" alt="" typeof="foaf:Image" class="img-responsive" /> </div> </div> </article> </div> </div> <div class="inline-content inline-description"> <div class="field field--name-field-file-display-name field--type-string field--label-hidden field--item">Press Release</div> <div class="field field--name-field-file-description field--type-string-long field--label-hidden field--item">Results for the six months to 30 September 2020</div> </div> <div class="field field--name-field-file-group field--type-entity-reference-revisions field--label-hidden field--items"> <div class="field--item"> <div class="tal__download--button" class="tal-file-download-link tal__download--button"> <p class="file-size">pdf | 811.84 KB</p> <span class="btn--download"><a href="https://www.tateandlyle.com/sites/default/files/2020-11/FY21%20INTERIM%20Statement%20FINAL.pdf" type="application/pdf; length=831327" target="_blank" data-file-name="FY21 INTERIM Statement FINAL.pdf" data-ipaddr="162.158.92.27" data-entityid="0" class="track-download" data-is-SAP="0" data-page="/taxonomy/term/4/feed">Download</a></span> <div class="tal--download-external-link"> </div> </div> </div> </div> </div> </div> <div class="field--item"><div class="paragraph paragraph--type--related-downloads paragraph--view-mode--default" id="paragraph-28281"> <div class="inline-content inline-icon"> <div class="field field--name-field-file-icon field--type-entity-reference field--label-hidden field--item"><article role="article" about="/content/icon-black-document" class="icon full clearfix"> <h2 class="hide"> <a href="/content/icon-black-document" rel="bookmark"><span>Icon-Black-Document</span> </a> </h2> <div class="content"> <div class="field field--name-field-image field--type-image field--label-hidden field--item"> <img src="/sites/default/files/styles/icon_48px_width/public/Icon-Black-Document-2x.png?itok=CIH_sV33" width="36" height="48" alt="" typeof="foaf:Image" class="img-responsive" /> </div> </div> </article> </div> </div> <div class="inline-content inline-description"> <div class="field field--name-field-file-display-name field--type-string field--label-hidden field--item">Presentation</div> <div class="field field--name-field-file-description field--type-string-long field--label-hidden field--item">Investor presentation of results for six months to 30 September 2020</div> </div> <div class="field field--name-field-file-group field--type-entity-reference-revisions field--label-hidden field--items"> <div class="field--item"> <div class="tal__download--button" class="tal-file-download-link tal__download--button"> <div class="tal--download-external-link"> <div class="field field--name-field-tal-link field--type-link field--label-hidden field--item"><a href="https://www.tateandlyle.com/sites/default/files/2020-11/fy21-half-year-results-presentation-final_0.pdf">Download</a></div> </div> </div> </div> </div> </div> </div> </div> <div class="field field--name-field-reusable-component field--type-entity-reference-revisions field--label-hidden field--items"> <div class="field--item"><div class="paragraph paragraph--type--block-reference paragraph--view-mode--default" id="paragraph-28251"> <div class="field--in-border-title"></div> </div></div> </div> <div class="field field--name-field-news-image-spacing field--type-list-string field--label-above"> <div class="field--label">News image spacing</div> <div class="field--item">Bottom 10</div> </div> Thu, 05 Nov 2020 06:10:38 +0000 mattwagg 15716 at https://www.tateandlyle.com Tate & Lyle welcomes new innovation lead https://www.tateandlyle.com/news/tate-lyle-welcomes-new-innovation-lead <span>Tate &amp; Lyle welcomes new innovation lead</span> <span><span lang="" about="/user/82496" typeof="schema:Person" property="schema:name" datatype="">mattwagg</span></span> <span>Wed, 11/04/2020 - 16:06</span> <div class="field field--name-field-date field--type-datetime field--label-hidden field--item"><time datetime="2020-11-05T12:00:00Z">05 Nov 2020</time> </div> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p><em><strong>Victoria Spadaro Grant joins Tate &amp; Lyle as President, Innovation and Commercial Development.</strong></em></p> </div> <div class="field field--name-field-category field--type-entity-reference field--label-hidden field--item"><a href="https://www.tateandlyle.com/category/press-releases" hreflang="en">Press Releases</a></div> <div class="field field--name-field-story-description field--type-entity-reference-revisions field--label-hidden field--item"> <div class="paragraph paragraph--type--wysiwyg-and-block-reference paragraph--view-mode--default"> <div class="field field--name-field-in-wysiwyg2 field--type-text-long field--label-hidden field--item"><div alt="Victoria Spadaro Grant" data-embed-button="tal_embed" data-entity-embed-display="media_image" data-entity-type="media" data-entity-uuid="72f59bc6-7cb0-464d-b8f0-9efcb15571f5" data-langcode="en" title="Victoria Spadaro Grant" class="align-right embedded-entity"> <img src="/sites/default/files/VictoriaSG_biog.jpg" alt="Victoria Spadaro Grant" title="Victoria Spadaro Grant" typeof="foaf:Image" class="img-responsive" /></div> <p><strong>London, UK, 5 November 2020:</strong> Tate &amp; Lyle PLC (Tate &amp; Lyle), a leading global provider of food and beverage ingredients and solutions, is pleased to announce that <a href="https://www.tateandlyle.com/content/victoria-spadaro-grant">Victoria Spadaro Grant</a> has joined the Company as its new President, Innovation and Commercial Development. Victoria will also be a member of Tate &amp; Lyle’s Executive Committee.</p> <p>Victoria will lead Tate &amp; Lyle’s global approach to product application and technical services, and scientific, nutrition and regulatory affairs, as well as delivering the company’s R&amp;D strategy in partnership with global business divisions and external innovation partners.</p> <p>Victoria joins Tate &amp; Lyle from Barilla, the Italian multinational food company, where she has been Chief Global Research Development and Quality Officer since 2014. During her career, Victoria has held senior R&amp;D roles with leading food and beverage brands including Mars Chocolate, Kraft Heinz and PepsiCo.</p> <p>Victoria takes on this role from Andrew Taylor who is now leading Tate &amp; Lyle’s new region of Asia, Middle East, Africa and Latin America.</p> <p><strong>Nick Hampton, Chief Executive said</strong>: “Innovation is central to our growth strategy and so we are delighted to welcome someone of Victoria’s experience and quality to Tate &amp; Lyle. Her extensive R&amp;D knowledge and strong customer-facing expertise will be of great benefit to us as we look to deliver on our growth ambitions.”</p> <p><strong>Victoria Spadaro Grant, President, Innovation &amp; Commercial Development said</strong>: “I am thrilled to be joining Tate &amp; Lyle and excited about the challenges that lie ahead. Tate &amp; Lyle is a company with a rich history of innovation, and has many talented scientists, and I look forward to working with Nick and the team to take the Company to the next stage of its development.”</p> </div> </div> </div> <div class="field field--name-field-reusable-component field--type-entity-reference-revisions field--label-hidden field--items"> <div class="field--item"><div class="paragraph paragraph--type--block-reference paragraph--view-mode--default" id="paragraph-28241"> <div class="field--in-border-title"></div> </div></div> </div> <div class="field field--name-field-news-image-spacing field--type-list-string field--label-above"> <div class="field--label">News image spacing</div> <div class="field--item">All sides 15</div> </div> Wed, 04 Nov 2020 16:06:39 +0000 mattwagg 15706 at https://www.tateandlyle.com Tate & Lyle to acquire tapioca business in Thailand https://www.tateandlyle.com/news/tate-lyle-acquire-tapioca-business-thailand <span>Tate &amp; Lyle to acquire tapioca business in Thailand</span> <span><span lang="" about="/user/9331" typeof="schema:Person" property="schema:name" datatype="">TaylorA</span></span> <span>Tue, 10/27/2020 - 17:48</span> <div class="field field--name-field-date field--type-datetime field--label-hidden field--item"><time datetime="2020-10-28T12:00:00Z">28 Oct 2020</time> </div> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p>Agreement to purchase 85% shareholding in Chaodee Modified Starch in support of strategy to grow texturant portfolio</p> <p> </p> </div> <div class="field field--name-field-category field--type-entity-reference field--label-hidden field--item"><a href="https://www.tateandlyle.com/category/press-releases" hreflang="en">Press Releases</a></div> <div class="field field--name-field-story-description field--type-entity-reference-revisions field--label-hidden field--item"> <div class="paragraph paragraph--type--wysiwyg-and-block-reference paragraph--view-mode--default"> <div class="field field--name-field-in-wysiwyg2 field--type-text-long field--label-hidden field--item"><div alt="Chili Sauce" data-embed-button="tal_embed" data-entity-embed-display="media_image" data-entity-embed-display-settings="article_small_312_x_169" data-entity-type="media" data-entity-uuid="7abf5445-7539-460f-bbf4-b9b6df32c5a1" data-langcode="en" title="Chili Sauce" class="align-right embedded-entity"> <img src="/sites/default/files/styles/article_small_312_x_169/public/Chili%20sauce.jpg?itok=ddEZLAOh" width="312" height="169" alt="Chili Sauce" title="Chili Sauce" typeof="foaf:Image" class="img-responsive" /></div> <p><strong>London, UK, 28 October 2020</strong> – Tate &amp; Lyle PLC (“Tate &amp; Lyle”), a leading global provider of food and beverage ingredients and solutions, announces that it has signed an agreement to acquire an 85% shareholding in Chaodee Modified Starch Co., Ltd. (“CMS”), a well-established tapioca modified food starch manufacturer located in Thailand.</p> <p>This investment extends Tate &amp; Lyle’s presence in speciality tapioca-based texturants and establishes a dedicated production facility in the main tapioca region of eastern Thailand.  The acquisition will enable Tate &amp; Lyle to offer a broader range of tapioca-based solutions to meet customers’ needs for better tasting and clean label foods in categories including dairy, bakery, snacks, noodles and soup, sauces and dressings. </p> <p>Tate &amp; Lyle will operate CMS in partnership with the former owner.  Together with its partner, Tate &amp; Lyle intends to invest in the facility over the next three years to increase significantly capacity for higher functionality starches.  The CMS facility will be supplied with substrate by a co-located tapioca starch mill fully owned and operated by Tate &amp; Lyle’s partner.</p> <p>Nick Hampton, Chief Executive of Tate &amp; Lyle, said: “We are delighted to announce this investment to expand our tapioca offering and grow our texturant portfolio.  CMS brings new tapioca capabilities, raw material sourcing expertise and additional production capacity to Tate &amp; Lyle, and expands our presence in the higher growth Asia Pacific region.”</p> <p>Closing of the transaction will occur when customary approvals have been received.</p> <p><strong>End</strong><br />  </p> <p><strong>Notes to Editor</strong></p> <p>1. Thailand is at the centre of tapioca production, with over 90% of tapioca starch output globally. Source: LMC, Commoditia, T&amp;L<br /> 2. Tapioca is the most popular and fastest growing texturant source in the Asian diet, and the fastest growing starch in new product formulations. Source: Mintel GNPD 2015-2019 CAGR<br /> 3. Tapioca has highly desirable functional properties such as a translucent colour, clean taste, and a soft gel-like texture.</p> <p><strong>For more information contact</strong><br /><br /> Anna Taylor-Elphick, Corporate PR Manager<br /><a href="mailto:Anna.taylor-elphick@tateandlyle.com">Anna.taylor-elphick@tateandlyle.com</a> / +44(0)7766361515<br /><br /> Christopher Marsh, VP, Investor Relations<br /> Tel: Mobile: +44 (0) 7796 192 688</p> </div> </div> </div> <div class="field field--name-field-reusable-component field--type-entity-reference-revisions field--label-hidden field--items"> <div class="field--item"><div class="paragraph paragraph--type--block-reference paragraph--view-mode--default" id="paragraph-28206"> <div class="field--in-border-title"></div> </div></div> </div> Tue, 27 Oct 2020 17:48:05 +0000 TaylorA 15686 at https://www.tateandlyle.com Directorate change https://www.tateandlyle.com/news/directorate-change <span>Directorate change</span> <span><span lang="" about="/user/9331" typeof="schema:Person" property="schema:name" datatype="">TaylorA</span></span> <span>Tue, 10/06/2020 - 18:32</span> <div class="field field--name-field-date field--type-datetime field--label-hidden field--item"><time datetime="2020-10-07T12:00:00Z">07 Oct 2020</time> </div> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p>Tate &amp; Lyle PLC (Tate &amp; Lyle) announces that Imran Nawaz, Chief Financial Officer, has decided to leave the Company to take up the position of Chief Financial Officer of Tesco plc.  Mr Nawaz will remain with Tate &amp; Lyle until April 2021 to close out the current financial year and support an orderly transition.</p> </div> <div class="field field--name-field-category field--type-entity-reference field--label-hidden field--item"><a href="https://www.tateandlyle.com/category/press-releases" hreflang="en">Press Releases</a></div> <div class="field field--name-field-story-description field--type-entity-reference-revisions field--label-hidden field--item"> <div class="paragraph paragraph--type--wysiwyg-and-block-reference paragraph--view-mode--default"> <div class="field field--name-field-in-wysiwyg2 field--type-text-long field--label-hidden field--item"><p>The Board has begun a process to appoint a successor to Mr Nawaz and a further announcement will be made in due course. </p> <p>Nick Hampton, Chief Executive said: “Imran has been an outstanding finance leader and has played an instrumental role in building the financial discipline to enable us to deliver on our strategy.  I want to thank Imran for his personal support and dedication to the Company over the last two years and wish him every success in the next stage of his career.”</p> <p>Gerry Murphy, Chairman, said: “Imran has been a highly valued member of the management team and on behalf of the Board I would like to thank him for his significant contribution to Tate &amp; Lyle and wish him every success in the future.”</p> <p><br /> For more information contact Tate &amp; Lyle PLC:</p> <p>Christopher Marsh, VP, Investor Relations<br /> Tel: Mobile: +44 (0) 7796 192 688</p> <p>Nick Hasell and Alex Le May, FTI Consulting (Media)<br /> Tel: 0203 727 1340</p> </div> </div> </div> <div class="field field--name-field-reusable-component field--type-entity-reference-revisions field--label-hidden field--items"> <div class="field--item"><div class="paragraph paragraph--type--block-reference paragraph--view-mode--default" id="paragraph-28176"> <div class="field--in-border-title"></div> </div></div> </div> Tue, 06 Oct 2020 18:32:23 +0000 TaylorA 15661 at https://www.tateandlyle.com Tate & Lyle greenhouse gas reduction goals approved as science-based targets https://www.tateandlyle.com/news/tate-lyle-greenhouse-gas-reduction-goals-approved-science-based-targets <span>Tate &amp; Lyle greenhouse gas reduction goals approved as science-based targets</span> <span><span lang="" about="/user/82496" typeof="schema:Person" property="schema:name" datatype="">mattwagg</span></span> <span>Thu, 09/17/2020 - 09:19</span> <div class="field field--name-field-date field--type-datetime field--label-hidden field--item"><time datetime="2020-09-17T12:00:00Z">17 Sep 2020</time> </div> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p><strong>17 September 2020, London, UK:</strong> Tate &amp; Lyle PLC (Tate &amp; Lyle), a leading global provider of food and beverage solutions and ingredients, is delighted to announce that its greenhouse gas emission reduction targets for 2030 have been approved by the Science Based Targets initiative (SBTi) as consistent with levels required to meet the climate action goals of the Paris Agreement.</p> </div> <div class="field field--name-field-category field--type-entity-reference field--label-hidden field--item"><a href="https://www.tateandlyle.com/category/press-releases" hreflang="en">Press Releases</a></div> <div class="field field--name-field-story-description field--type-entity-reference-revisions field--label-hidden field--item"> <div class="paragraph paragraph--type--wysiwyg-and-block-reference paragraph--view-mode--default"> <div class="field field--name-field-in-wysiwyg2 field--type-text-long field--label-hidden field--item"><p>Announced in May 2020, Tate &amp; Lyle’s commitment to a 30% absolute reduction in Scope 1 and Scope 2 greenhouse gas emissions by 2030 is in line with the Paris Agreement’s central aim to keep a global temperature rise this century well below 2°C. The company’s commitment to reduce emissions from the value chain (Scope 3) by 15% over the same period meets the SBTi’s criteria for ambitious value chain goals.</p> <p>Tate &amp; Lyle is one of only around 65 food and beverage operators globally to have its environmental commitments approved by SBTi, a collaboration between CDP, the United Nations Global Compact, World Resources Institute, and the World Wide Fund for Nature.</p> <p><strong>Nick Hampton, Tate &amp; Lyle CEO,</strong> said: “At Tate &amp; Lyle, we are passionate about making our contribution to lowering greenhouse gas emissions and minimising the worst effects of climate change. That's why, inspired by our purpose Improving Lives for Generations, we have set ourselves ambitious environmental targets that are aligned to what the latest climate science is telling us we need to do. We are committed to working actively across our supply chain to help improve our environment and shape a better world.”</p> <p><strong>Sara Leeman, Environment Lead at Tate &amp; Lyle,</strong> added: “To make the necessary reductions in greenhouse gas emissions, manufacturers like us must look beyond our factory gates to our value chain and commit to collaboration. With the approval of our science-based targets, we are delighted to have a unifying framework enabling our employees, suppliers and customers to work together to achieve shared sustainability goals backed by climate science.”</p> <div alt="Environmental science-based targets" data-embed-button="tal_embed" data-entity-embed-display="media_image" data-entity-type="media" data-entity-uuid="737826a7-3365-44b3-ab9f-ed2f056aabff" data-langcode="en" title="Environmental science-based targets" class="embedded-entity"> <img src="/sites/default/files/env-gif-small_0.gif" alt="Environmental science-based targets" title="Environmental science-based targets" typeof="foaf:Image" class="img-responsive" /></div> <p><strong>ENDS</strong></p> <hr /><p><strong>Notes to editors</strong></p> <ul><li>Tate &amp; Lyle’s environmental commitments are set out <a href="https://www.tateandlyle.com/environment">here</a>.</li> <br /><li>Tate &amp; Lyle’s approved science-based target wording:<br /> Tate &amp; Lyle PLC commits to reduce absolute scope 1 and 2 GHG emissions 30% by 2030 from a 2019 base year.* Tate &amp; Lyle PLC also commits to reduce absolute scope 3 GHG emissions 15% over the same target period.<br /><br /><em>*The target boundary includes biogenic emissions and removals from bioenergy feedstocks.</em></li> <br /><li>On 12 December 2015 in Paris, parties to the United Nations Framework Convention on Climate Change reached a landmark agreement to combat climate change and to accelerate and intensify the actions and investments needed for a sustainable low carbon future. The Paris Agreement central aim is to strengthen the global response to the threat of climate change by keeping a global temperature rise this century well below 2 degrees Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5 degrees Celsius. <a href="https://unfccc.int/process-and-meetings/the-paris-agreement/what-is-the-paris-agreement">More information here</a>.</li> <br /><li>More information on the Science Based Targets initiative <a href="https://sciencebasedtargets.org/">here</a>.</li> </ul><hr /><p><strong>For more information contact:</strong></p> <p>Anna Taylor<br /> Corporate PR Manager<br /><a href="mailto:anna.taylor@tateandlyle.com">anna.taylor@tateandlyle.com</a><br /> +44(0)7766361515</p> </div> </div> </div> <div class="field field--name-field-reusable-component field--type-entity-reference-revisions field--label-hidden field--items"> <div class="field--item"><div class="paragraph paragraph--type--block-reference paragraph--view-mode--default" id="paragraph-28156"> <div class="field--in-border-title"></div> </div></div> </div> <div class="field field--name-field-news-image-spacing field--type-list-string field--label-above"> <div class="field--label">News image spacing</div> <div class="field--item">All sides 10</div> </div> Thu, 17 Sep 2020 09:19:47 +0000 mattwagg 15651 at https://www.tateandlyle.com Tate & Lyle Q1 Trading Statement - July 2020 https://www.tateandlyle.com/news/tate-lyle-q1-trading-statement-july-2020 <span>Tate &amp; Lyle Q1 Trading Statement - July 2020</span> <span><span lang="" about="/user/82496" typeof="schema:Person" property="schema:name" datatype="">mattwagg</span></span> <span>Wed, 07/22/2020 - 16:18</span> <div class="field field--name-field-date field--type-datetime field--label-hidden field--item"><time datetime="2020-07-23T12:00:00Z">23 Jul 2020</time> </div> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p><strong>Tate &amp; Lyle issues the following trading statement for the three months to 30 June 2020.</strong></p> </div> <div class="field field--name-field-category field--type-entity-reference field--label-hidden field--item"><a href="https://www.tateandlyle.com/category/press-releases" hreflang="en">Press Releases</a></div> <div class="field field--name-field-story-description field--type-entity-reference-revisions field--label-hidden field--item"> <div class="paragraph paragraph--type--wysiwyg-and-block-reference paragraph--view-mode--default"> <div class="field field--name-field-in-wysiwyg2 field--type-text-long field--label-hidden field--item"><p>As anticipated in our trading update on 4 May 2020 and in our full-year results statement on 21 May 2020, the Group’s performance in the first quarter reflected the impact of lockdowns on out-of-home consumption in North America and Europe, partially offset by resilience from in-home consumption. Having seen fluctuating demand patterns in April and May, demand improved in both divisions in June as lockdowns started to ease. The full extent of the pandemic’s impact still remains unclear.</p> <p>Our response to Covid-19 has successfully focused on ensuring we look after the health, safety and wellbeing of our colleagues, their families and the local communities in which we operate; and to work closely with our customers to play our part in supporting the food supply chain with all our manufacturing facilities remaining fully operational in the quarter.</p> <div alt="Q1 2020 trading statement" data-embed-button="tal_embed" data-entity-embed-display="media_image" data-entity-type="media" data-entity-uuid="51d21506-f3d3-4a3b-9a58-e209b01143af" data-langcode="en" title="Q1 2020 trading statement" class="embedded-entity"> <img src="/sites/default/files/Q1%202020%20trading%20statement.jpg" alt="Q1 2020 trading statement" title="Q1 2020 trading statement" typeof="foaf:Image" class="img-responsive" /></div> <p><em>* Growth in constant currency</em></p> <h4>Food &amp; Beverage Solutions</h4> <p>Revenue was £232 million, 1% higher benefiting from good price and mix management and 9% growth in New Products<sup>1</sup> revenue. Volume was 2% lower as reduced demand for ingredients used in food and drink consumed out-of-home (representing 15% to 25% of revenue) outweighed stronger demand for packaged and shelf-stable foods for consumption in-home.</p> <p>In North America, revenue for the quarter was 2% lower due to reduced demand for out-of-home consumption particularly in the food service sector. North America returned to revenue growth in June as lockdown restrictions eased. In Europe, Middle East and Africa revenue was in line with the comparative period reflecting solid demand for in-home consumption. In Asia Pacific and Latin America revenue was 8% higher reflecting good revenue growth in Asia Pacific as China emerged from lockdown, while in Latin America revenue grew modestly, slowing as the quarter progressed and the region went into lockdown.</p> <h4>Sucralose</h4> <p>Revenue was £39 million, 1% lower reflecting softer demand for products consumed out-of-home, particularly beverages.</p> <h4>Primary Products</h4> <p>Revenue was £420 million, 9% lower. North American bulk sweetener volume was 12% lower reflecting reduced out-of-home consumption (representing around 30% of sweetener consumption) with demand recovering sequentially during the quarter as some US states began to ease lockdown restrictions. Industrial starch volume was 16% lower as the paper industry took actions to reduce capacity temporarily with many schools and offices still closed.</p> <h4>Reducing costs and preserving cash</h4> <p>The financial impact of lower demand was partially mitigated by actions taken to reduce costs including freezing salary increases and recruitment and significantly reducing discretionary costs. Procedures were also put in place to preserve cash through re-prioritising capital commitments and a rigorous approach to managing working capital. No employees have been furloughed and no government aid has been sought.</p> <h4>Strong balance sheet</h4> <p>Our balance sheet is strong with net debt at 30 June 2020 of £384 million, £67 million lower than at 31 March 2020 reflecting seasonal improvement and good cash management.</p> <p><strong>Nick Hampton, Chief Executive said:</strong></p> <p>“As expected, the first quarter presented many challenges and I am very proud of the way we are navigating the impact of Covid-19. We are encouraged by the improvement in demand we saw in June and the continued strategic progress we are making, with new product revenue growing 9% in the quarter. Our new business pipeline is healthy, we continue to find creative ways to use technology to support and connect with our customers, and all our manufacturing facilities remain fully operational.</p> <p>The fundamentals of our business are sound. Demand for ingredients and solutions which enable consumers to enjoy healthier and tastier food and drink is strong, and we have the portfolio of products and technical expertise to help our customers deliver on these trends.</p> <p>Looking ahead, our priorities are clear – to look after our people and communities, strengthen our relationships with customers, continue to progress our strategy and maintain our financial strength. I am confident that our future prospects remain strong.”</p> <p><sub><sup>1 </sup>New Products are products launched in the last seven years</sub></p> <p>END</p> <p><strong>For more information contact Tate &amp; Lyle PLC:</strong></p> <p>Christopher Marsh, VP, Investor Relations<br /> Tel: Mobile: +44 (0) 7796 192 688</p> <p>Nick Hasell, FTI Consulting (Media)<br /> Tel: Mobile: +44 (0) 7825 523 383</p> </div> </div> </div> <div class="field field--name-field-reusable-component field--type-entity-reference-revisions field--label-hidden field--items"> <div class="field--item"><div class="paragraph paragraph--type--block-reference paragraph--view-mode--default" id="paragraph-28101"> <div class="field--in-border-title"></div> </div></div> </div> Wed, 22 Jul 2020 16:18:59 +0000 mattwagg 15601 at https://www.tateandlyle.com Tate & Lyle launches new SWEETENER VANTAGE™ sweetener solution design tools https://www.tateandlyle.com/news/tate-lyle-launches-new-sweetener-vantage-sweetener-solution-design-tools <span>Tate &amp; Lyle launches new SWEETENER VANTAGE™ sweetener solution design tools</span> <span><span lang="" about="/user/82496" typeof="schema:Person" property="schema:name" datatype="">mattwagg</span></span> <span>Wed, 07/15/2020 - 10:55</span> <div class="field field--name-field-date field--type-datetime field--label-hidden field--item"><time datetime="2020-07-20T12:00:00Z">20 Jul 2020</time> </div> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p><strong>15 July 2020, London, UK:</strong> Tate &amp; Lyle PLC (Tate &amp; Lyle), a leading global provider of food and beverage solutions and ingredients, is pleased to announce the launch of SWEETENER-VANTAGE™ Expert Systems, a set of new and innovative sweetener solution design tools, together with an education programme, which are designed to help formulators create sugar-reduced food and drink using low calorie sweeteners.</p> </div> <div class="field field--name-field-category field--type-entity-reference field--label-hidden field--item"><a href="https://www.tateandlyle.com/category/press-releases" hreflang="en">Press Releases</a></div> <div class="field field--name-field-story-description field--type-entity-reference-revisions field--label-hidden field--item"> <div class="paragraph paragraph--type--wysiwyg-and-block-reference paragraph--view-mode--default"> <div class="field field--name-field-in-wysiwyg2 field--type-text-long field--label-hidden field--item"><div alt="Iced tea drink with sweetener" data-embed-button="tal_embed" data-entity-embed-display="media_image" data-entity-type="media" data-entity-uuid="89136917-896b-4844-a644-054c80ecf525" data-langcode="en" title="Iced tea drink with sweetener" class="align-right embedded-entity"> <img src="/sites/default/files/SV-tile.jpg" alt="Iced tea drink with sweetener" title="Iced tea drink with sweetener" typeof="foaf:Image" class="img-responsive" /></div> <p>Developed in response to customer demand for more predictive tools to support product performance and reduce development time, SWEETENER-VANTAGE™ Expert Systems will enable formulators to more efficiently solve their formulation challenges.</p> <p>The SWEETENER-VANTAGE™ suite of tools includes sweetener maps and selection tools, and WikiSweet™, Tate &amp; Lyle’s proprietary encyclopedia of formulation challenges and solutions, which Tate &amp; Lyle scientists use with formulators to help them to differentiate between and select suitable sweeteners. A new three-module webinar series, Sweetener University™, developed by scientists for scientists, provides a forum for formulators to hear about and discuss the latest science and trends relating to sweeteners. The first module in the Sweetener University™ series will be delivered on 22 July 2020 by two of Tate &amp; Lyle’s leading sweetener experts. Registration is free and accessible <a href="https://event.on24.com/wcc/r/2508178/02DB20843D66008840761EF5444DF0C9?partnerref=web">via this link</a>.</p> <p><strong>Shawn Erickson, Senior Principal Scientist, at Tate &amp; Lyle</strong>, who co-developed the curriculum and will co-host the first Sweetener University™ webinar next week, said: “We developed the SWEETENER-VANTAGE™ Expert Systems to meet high demand for accessible expert guidance and tools that simplify and expedite the product development process. Through this suite of tools, Tate &amp; Lyle shares 160-years of sweetening expertise to help formulators of all experience-levels build their knowledge of the latest sweetener science, understand variations in sweetener offerings, and deepen formulation expertise.”</p> <p><strong>Jim Carr, Director of Global Ingredient Technology for Sweeteners at Tate &amp; Lyle</strong>, who also developed and will deliver the curriculum, added: “Low and no calorie sweeteners are a vital tool in today’s formulation toolbox, especially with the heightened focus on developing great-tasting, healthier products with less sugar and calories. By sharing our product and application knowledge, we are working to help the industry create next generation products that address health challenges in society, delivering our purpose of Improving Lives for Generations.”</p> <div alt="Sweetener Vantage Expert Systems" data-embed-button="tal_embed" data-entity-embed-display="media_image" data-entity-type="media" data-entity-uuid="19575ee1-72a0-42ec-a7e7-4c3fabdb2fdb" data-langcode="en" title="Sweetener Vantage Expert Systems" class="embedded-entity"> <img src="/sites/default/files/Sweetener_Vantage_logo.jpg" alt="Sweetener Vantage Expert Systems" title="Sweetener Vantage Expert Systems" typeof="foaf:Image" class="img-responsive" /></div> <p>SWEETENER-VANTAGE™ builds on Tate &amp; Lyle’s successful TEXTURE-VANTAGE® education programme, with a webinar series that has attracted thousands of registered participants since its 2018 launch.</p> <p><strong>ENDS</strong></p> <p><strong>For more information contact:</strong></p> <p>Anna Taylor<br /> Corporate PR Manager<br /><a href="mailto:Anna.taylor@tateandlyle.com">Anna.taylor@tateandlyle.com</a><br /> +44(0)7766361515</p> </div> </div> </div> <div class="field field--name-field-reusable-component field--type-entity-reference-revisions field--label-hidden field--items"> <div class="field--item"><div class="paragraph paragraph--type--block-reference paragraph--view-mode--default" id="paragraph-28076"> <div class="field--in-border-title"></div> </div></div> </div> <div class="field field--name-field-news-image-spacing field--type-list-string field--label-above"> <div class="field--label">News image spacing</div> <div class="field--item">All sides 10</div> </div> Wed, 15 Jul 2020 10:55:55 +0000 mattwagg 15586 at https://www.tateandlyle.com Tate & Lyle and Solevo announce new distribution partnership for West Africa https://www.tateandlyle.com/news/tate-lyle-and-solevo-announce-new-distribution-partnership-west-africa <span>Tate &amp; Lyle and Solevo announce new distribution partnership for West Africa</span> <span><span lang="" about="/user/82496" typeof="schema:Person" property="schema:name" datatype="">mattwagg</span></span> <span>Mon, 06/29/2020 - 09:29</span> <div class="field field--name-field-date field--type-datetime field--label-hidden field--item"><time datetime="2020-06-29T12:00:00Z">29 Jun 2020</time> </div> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p><strong>29 June 2020, London, UK and Geneva, Switzerland</strong>: Tate &amp; Lyle PLC (Tate &amp; Lyle), a leading global provider of food and beverage ingredients, and <a href="https://www.solevogroup.com/">Solevo</a>, a leading distributor of chemicals and inputs for specific industrial and agricultural segments in Africa, today announced a new distribution partnership. Solevo has become the exclusive distributor of Tate &amp; Lyle’s ingredients in West African countries including Ivory Coast, Senegal and Cameroon.</p> </div> <div class="field field--name-field-category field--type-entity-reference field--label-hidden field--item"><a href="https://www.tateandlyle.com/category/press-releases" hreflang="en">Press Releases</a></div> <div class="field field--name-field-story-description field--type-entity-reference-revisions field--label-hidden field--item"> <div class="paragraph paragraph--type--wysiwyg-and-block-reference paragraph--view-mode--default"> <div class="field field--name-field-in-wysiwyg2 field--type-text-long field--label-hidden field--item"><div alt="Traditional African cuisine with chillies in a bowl" data-embed-button="tal_embed" data-entity-embed-display="media_image" data-entity-type="media" data-entity-uuid="bf37cf91-eeb3-4fb6-9ccb-f698d7a30c76" data-langcode="en" title="Solevo Traditional African cuisine with chillies in a bowl" class="align-right embedded-entity"> <img src="/sites/default/files/solevo-PR-tile.jpg" alt="Traditional African cuisine with chillies in a bowl" title="Solevo Traditional African cuisine with chillies in a bowl" typeof="foaf:Image" class="img-responsive" /></div> <p>This agreement comes from the companies’ shared ambition to offer innovative solutions in the African continent and provide local consumers with access to high-quality food and beverage ingredients, including low calorie sweeteners, health and wellness ingredients such as soluble fibre, texturants, stabilisers, and acidulants.</p> <p>“We are proud to have Tate &amp; Lyle as a partner,” said Matthieu Van Bree, Head of Industrial Chemicals, Solevo. “With this partnership, we are expanding our position in the market of speciality food ingredients and solutions we offer to our customers in the food and beverage industry.”</p> <p>Dominique Floch, Regional Sales &amp; Technical Director, Turkey, Middle East and Africa, Tate &amp; Lyle, said: “It’s very exciting to have Solevo as our distribution partner for West Africa. The long history and experience of Solevo in Africa will be very useful to increase our market presence. The African food industry is growing fast and producers are looking for ingredients and solutions that help them meet growing consumer demand for great tasting, shelf-stable food and beverages that support healthier diets. With a partner like Solevo, we are ready to support these trends.”</p> <p>ENDS</p> <p><strong>Contact information:</strong></p> <p><strong>Tate &amp; Lyle PLC</strong><br /><a href="mailto:prenquiries@tateandlyle.com">prenquiries@tateandlyle.com</a></p> <p><strong>Solevo</strong><br /><a href="mailto:communication@solevogroup.com">communication@solevogroup.com</a><br /><a href="https://www.solevogroup.com/">https://www.solevogroup.com/</a></p> <hr /><p><strong>About Solevo</strong></p> <p>SOLEVO is a leading distributor of chemicals and inputs for specific industrial and agricultural segments in Africa where we have been for over 70 years a key strategic partner for industries and farmers.</p> <p>Our Industry division includes products and services in 7 sectors: Water treatment, Mining, Beauty &amp; Personal Care, Homecare &amp; Industrial Cleaning, Oil &amp; Gas, Food and Beverage Industry, Packaging. Our portfolio in Agriculture covers fertilizers, seeds, crop protection products.</p> <p>Our goal is to provide our customers with innovative solutions and quality, high-performance, sustainable products to ensure production stability, to improve yields, to support industrial development in the mining and manufacturing sectors and to ensure access to drinking water.</p> <p>For more information visit our website <a href="https://www.solevogroup.com">www.solevogroup.com</a> or visit our <a href="https://www.linkedin.com/company/solevogroup">LinkedIn page</a> or contact us at <a href="mailto:communication@solevogroup.com">communication@solevogroup.com</a>.</p> </div> </div> </div> <div class="field field--name-field-reusable-component field--type-entity-reference-revisions field--label-hidden field--items"> <div class="field--item"><div class="paragraph paragraph--type--block-reference paragraph--view-mode--default" id="paragraph-28041"> <div class="field--in-border-title"></div> </div></div> </div> <div class="field field--name-field-news-image-spacing field--type-list-string field--label-above"> <div class="field--label">News image spacing</div> <div class="field--item">All sides 15</div> </div> Mon, 29 Jun 2020 09:29:30 +0000 mattwagg 15556 at https://www.tateandlyle.com Tate & Lyle announces major sustainability investment at its facility in Lafayette South, Indiana, U.S., on World Environment Day https://www.tateandlyle.com/news/tate-lyle-announces-major-sustainability-investment-its-facility-lafayette-south-indiana-us <span>Tate &amp; Lyle announces major sustainability investment at its facility in Lafayette South, Indiana, U.S., on World Environment Day </span> <span><span lang="" about="/user/82496" typeof="schema:Person" property="schema:name" datatype="">mattwagg</span></span> <span>Thu, 06/04/2020 - 15:35</span> <div class="field field--name-field-date field--type-datetime field--label-hidden field--item"><time datetime="2020-06-05T12:00:00Z">05 Jun 2020</time> </div> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p><strong>05 June 2020, London, UK:</strong> Tate &amp; Lyle PLC, a leading global provider of food and beverage ingredients and solutions, is pleased to announce a US$75 million investment in a new natural gas-fired combined heat and power system to deliver significant environmental and economic benefits at its Lafayette South corn wet milling facility in Lafayette, Indiana, US. This investment, announced on World Environment Day, will support the delivery of Tate &amp; Lyle’s ambitious <a href="https://www.tateandlyle.com/news/tate-lyle-announces-ambitious-new-environmental-targets?utm_source=Press+Release+list&amp;utm_campaign=f92f8e7074-EMAIL_CAMPAIGN_2019_09_02_11_54_COPY_01&amp;utm_medium=email&amp;utm_term=0_d42bb3105b-f92f8e7074-">new sustainability targets for 2030 </a>published last month including to reduce greenhouse gas emissions, eliminate coal from its operations and reduce water use.</p> </div> <div class="field field--name-field-category field--type-entity-reference field--label-hidden field--item"><a href="https://www.tateandlyle.com/category/press-releases" hreflang="en">Press Releases</a></div> <div class="field field--name-field-story-description field--type-entity-reference-revisions field--label-hidden field--item"> <div class="paragraph paragraph--type--wysiwyg-and-block-reference paragraph--view-mode--default"> <div class="field field--name-field-in-wysiwyg2 field--type-text-long field--label-hidden field--item"><div alt="Lafayette South aerial shot" data-embed-button="tal_embed" data-entity-embed-display="media_image" data-entity-type="media" data-entity-uuid="7c0202db-6d08-40d5-986d-e2a8a90d60cb" data-langcode="en" title="Lafayette South aerial shot" class="align-right embedded-entity"> <img src="/sites/default/files/lafsaf.jpg" alt="Lafayette South aerial shot" title="Lafayette South aerial shot" typeof="foaf:Image" class="img-responsive" /></div> <p>The new gas turbines will generate electricity and steam to power and heat the facility, delivering a significant improvement in energy and operational efficiency. The new co-generation system will replace the site’s coal-fired boiler, delivering around 40% reduction in greenhouse gas emissions and around 5% reduction in water use.</p> <p>Work at the site to transition from a coal-fired boiler to new gas turbines is being undertaken with strict safety protocols that include social distancing and other protective measures.</p> <p>This investment follows completion of a similar system at Tate &amp; Lyle’s corn wet mill in Loudon, Tennessee in 2017. Tate &amp; Lyle has a six-year, US$150 million productivity programme, which is now in its third year, and this investment is part of delivering that programme.</p> <p><strong>Travis Montoya, Plant Manager at Lafayette South said:</strong></p> <p>“This major investment will make our facility more efficient and directly benefit the local community through improved air quality, decreased water use and less truck traffic. At Lafayette South, we have a strong track record of energy efficiency, having received the U.S. Environmental Protection Agency’s ENERGY STAR accreditation for five consecutive years; this is a real source of pride for the local team. We appreciate the State of Indiana and the City of Lafayette’s support in helping to move this project forward.”</p> <p><strong>Melissa Law, President of Global Operations at Tate &amp; Lyle, added: </strong></p> <p>“A key pillar of our purpose of <a href="https://www.tateandlyle.com/corporate-responsibility">Improving Lives for Generations</a>, is to care for our planet and to help protect its natural resources for the benefit of future generations. This project at Lafayette South is a great example of our purpose in action and will help us meet our ambitious new environmental commitments, driving important energy-saving and environmental benefits.”</p> <p><strong>END</strong></p> <p><strong>Notes to Editors</strong></p> <ol><li>Lafayette South has received ENERGY STAR accreditation every year since 2015: <a href="https://www.energystar.gov/buildings?s=mega">https://www.energystar.gov/buildings?s=mega</a> </li> </ol><p><strong>Media contact</strong></p> <p>Anna Taylor<br /> Tate &amp; Lyle Corporate PR Manager<br /><a href="mailto: Anna.taylor@tateandlyle.com">Anna.taylor@tateandlyle.com</a> / +44(0)7766361515</p> </div> </div> </div> <div class="field field--name-field-reusable-component field--type-entity-reference-revisions field--label-hidden field--items"> <div class="field--item"><div class="paragraph paragraph--type--block-reference paragraph--view-mode--default" id="paragraph-28271"> <div class="field--in-border-title"></div> <section class="block block- blue dcp-content-4 block-bg block-detail-content-promo clearfix"> <div class="field field--name-field-banner-title field--type-string field--label-hidden field--item">Find out about our commitments to:</div> <div class="field field--name-field-dcp-content-section field--type-entity-reference-revisions field--label-hidden field--items"> <div class="field--item"><div class="paragraph paragraph--type--detail-content-promo paragraph--view-mode--default"> <div class="field field--name-field-file-icon field--type-entity-reference field--label-hidden field--item"><article role="article" about="/content/icon-white-co2" class="icon default clearfix"> <h2 class="hide"> <a href="/content/icon-white-co2" rel="bookmark"><span>Icon-White- CO2</span> </a> </h2> <div class="content"> <div class="field field--name-field-image field--type-image field--label-hidden field--item"> <img src="/sites/default/files/styles/icon_48px_width/public/White%20co2.png?itok=qF0AUvBH" width="48" height="48" alt="" typeof="foaf:Image" class="img-responsive" /> </div> </div> </article> </div> <h3 class="field--name-field-simple-text"> <a href="/environment/carbon-footprint">Reducing our carbon footprint</a> </h3> </div> </div> <div class="field--item"><div class="paragraph paragraph--type--detail-content-promo paragraph--view-mode--default"> <div class="field field--name-field-file-icon field--type-entity-reference field--label-hidden field--item"><article role="article" about="/content/icon-white-water" class="icon default clearfix"> <h2 class="hide"> <a href="/content/icon-white-water" rel="bookmark"><span>Icon white water</span> </a> </h2> <div class="content"> <div class="field field--name-field-image field--type-image field--label-hidden field--item"> <img src="/sites/default/files/styles/icon_48px_width/public/White%20water%20icon2.png?itok=frX73IYV" width="48" height="48" alt="" typeof="foaf:Image" class="img-responsive" /> </div> </div> </article> </div> <h3 class="field--name-field-simple-text"> <a href="/environment/reducing-our-water-use">Reducing water use</a> </h3> </div> </div> <div class="field--item"><div class="paragraph paragraph--type--detail-content-promo paragraph--view-mode--default"> <div class="field field--name-field-file-icon field--type-entity-reference field--label-hidden field--item"><article role="article" about="/content/icon-white-waste" class="icon default clearfix"> <h2 class="hide"> <a href="/content/icon-white-waste" rel="bookmark"><span>Icon-White- Waste</span> </a> </h2> <div class="content"> <div class="field field--name-field-image field--type-image field--label-hidden field--item"> <img src="/sites/default/files/styles/icon_48px_width/public/White%20waste%20icon2.png?itok=v2ily58x" width="48" height="48" alt="" typeof="foaf:Image" class="img-responsive" /> </div> </div> </article> </div> <h3 class="field--name-field-simple-text"> <a href="/environment/beneficially-using-waste">Beneficially using waste</a> </h3> </div> </div> <div class="field--item"><div class="paragraph paragraph--type--detail-content-promo paragraph--view-mode--default"> <div class="field field--name-field-file-icon field--type-entity-reference field--label-hidden field--item"><article role="article" about="/content/icon-white-corn" class="icon default clearfix"> <h2 class="hide"> <a href="/content/icon-white-corn" rel="bookmark"><span>Icon-White-Corn</span> </a> </h2> <div class="content"> <div class="field field--name-field-image field--type-image field--label-hidden field--item"> <img src="/sites/default/files/styles/icon_48px_width/public/Icon-White-Corn-2x.png?itok=lEuJOJcz" width="46" height="48" alt="" typeof="foaf:Image" class="img-responsive" /> </div> </div> </article> </div> <h3 class="field--name-field-simple-text"> <a href="/environment/sustainable-agriculture">Sustainable agriculture</a> </h3> </div> </div> </div> </section> </div></div> </div> <div class="field field--name-field-news-image-spacing field--type-list-string field--label-above"> <div class="field--label">News image spacing</div> <div class="field--item">All sides 15</div> </div> Thu, 04 Jun 2020 15:35:18 +0000 mattwagg 15526 at https://www.tateandlyle.com Tate & Lyle announces ambitious new environmental targets https://www.tateandlyle.com/news/tate-lyle-announces-ambitious-new-environmental-targets <span>Tate &amp; Lyle announces ambitious new environmental targets</span> <span><span lang="" about="/user/82496" typeof="schema:Person" property="schema:name" datatype="">mattwagg</span></span> <span>Wed, 05/20/2020 - 20:57</span> <div class="field field--name-field-date field--type-datetime field--label-hidden field--item"><time datetime="2020-05-21T12:00:00Z">21 May 2020</time> </div> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p><em>New targets to reduce greenhouse gas emissions and eliminate coal from its operations, reduce water use, beneficially use all its waste, and maintain support for sustainable agriculture.</em></p> </div> <div class="field field--name-field-category field--type-entity-reference field--label-hidden field--item"><a href="https://www.tateandlyle.com/category/press-releases" hreflang="en">Press Releases</a></div> <div class="field field--name-field-story-description field--type-entity-reference-revisions field--label-hidden field--item"> <div class="paragraph paragraph--type--wysiwyg-and-block-reference paragraph--view-mode--default"> <div class="field field--name-field-in-wysiwyg2 field--type-text-long field--label-hidden field--item"><p><strong>21 May 2020 London, UK:</strong> Tate &amp; Lyle PLC (Tate &amp; Lyle), a leading supplier of food and beverage ingredients and solutions, announces a set of <a href="https://www.tateandlyle.com/environment">ambitious new environmental targets and commitments</a>. These targets are aligned to the delivery of Tate &amp; Lyle’s purpose, Improving Lives for Generations, a key pillar of which is to care for our planet and protect its natural resources for the benefit of future generations.</p> <p> </p> <div alt="Aerial shot of corn field being harvested" data-embed-button="tal_embed" data-entity-embed-display="media_image" data-entity-type="media" data-entity-uuid="b270f6b3-fa8a-465c-bad0-26285eb9b431" data-langcode="en" title="Aerial shot of corn field being harvested" class="align-right embedded-entity"> <img src="/sites/default/files/environmental-targets-PR-tile.jpg" alt="Aerial shot of corn field being harvested" title="Aerial shot of corn field being harvested" typeof="foaf:Image" class="img-responsive" /></div> <p><strong>Tate &amp; Lyle’s new environmental targets are, by 2030, to deliver:</strong></p> <ul><li>30% absolute reduction in <a href="https://www.tateandlyle.com/environment/carbon-footprint">Scope 1 and 2 CO2e emissions</a>, with an ambition to reach 20% reduction by 2025.</li> <li>15% absolute reduction in <a href="https://www.tateandlyle.com/environment/carbon-footprint">Scope 3 CO2e emissions</a>.</li> <li>100% of its <a href="https://www.tateandlyle.com/environment/beneficially-using-waste">waste to be beneficially used</a>, with an ambition to reach 75% by 2025.</li> <li>15% <a href="https://www.tateandlyle.com/environment/reducing-our-water-use">reduction in water use</a>.</li> </ul><p><strong>In adopting these targets, Tate &amp; Lyle commits to:</strong></p> <ul><li>Eliminate use of coal from its operations by 2025.</li> <li>Establish its Scope 1, 2 and 3 CO2e emissions reductions as Science-Based Targets.</li> <li><a href="https://www.tateandlyle.com/environment/sustainable-agriculture">Maintain sustainable acreage</a> equivalent to the volume of corn Tate &amp; Lyle buys globally each year, currently 1.5 million acres, and through partnerships accelerate the adoption of conservation practices.</li> </ul><p>These new targets and commitments build on the steps already taken to enhance Tate &amp; Lyle’s sustainability across its entire value chain. For example, in September Tate &amp; Lyle announced a landmark sustainable agriculture programme in partnership with Truterra™ (formerly Land O'Lakes SUSTAIN™) to help growers in the US Midwest understand the impact sustainable practices can have on their crops and their profitability, and to adopt them.</p> <p>To demonstrate its commitment to the new environmental targets, Tate &amp; Lyle has linked the pricing of its US$800 million revolving credit facility, extended in May 2020, to the delivery of its new Scope 1 and 2 CO2e emissions, beneficial waste and water reduction targets.</p> <p><strong>Nick Hampton, Chief Executive at Tate &amp; Lyle, said:</strong> “There has never been a greater need for businesses to address the climate change crisis. One of the key pillars of our purpose of Improving Lives for Generations is to care for our planet and with our new environmental targets and commitments we are taking decisive action to protect our planet’s natural resources for the benefit of future generations.”</p> <p><strong>Anna Pierce, Director of Sustainability at Tate &amp; Lyle, added:</strong> “These stretching new targets demonstrate our steadfast commitment to integrate sustainability into our day-to-day business activities, processes and culture.”</p> <p><strong>ENDS</strong></p> <p><strong>Notes to editors</strong></p> <ol><li>Progress against these targets will be measured and published in Tate &amp; Lyle’s Annual Report each year.</li> <li>Emissions categories:<br /> • Scope 1: Direct emissions from owned or controlled sources<br /> • Scope 2: Indirect emissions from the generation of purchased energy<br /> • Scope 3: Other indirect emissions such as the growing and production of purchased materials, including corn, and transportation of purchased fuels and other goods.</li> <li>Carbon dioxide equivalent (CO2e) is a term for describing different greenhouse gases in a common unit to signify the amount of carbon dioxide (CO2) that would have the equivalent global warming impact.</li> <li>Targets adopted by companies to reduce greenhouse gas (GHG) emissions are considered “science-based” if they are in line with what the latest climate science says is necessary to meet the goals of the Paris Agreement – to limit global warming to well-below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C. <a href="https://sciencebasedtargets.org/what-is-a-science-based-target/">Find out more</a>.</li> <li>The new water target is an intensity target.</li> <li><a href="https://www.tateandlyle.com/news/tate-lyle-and-land-o-lakes-sustain-launch-landmark-sustainability-initiative-15-million-acres">Tate &amp; Lyle and Land O’Lakes SUSTAIN launch landmark sustainability initiative on 1.5 million acres of U.S. corn</a> – announced 12 September 2019</li> </ol></div> </div> </div> <div class="field field--name-field-reusable-component field--type-entity-reference-revisions field--label-hidden field--items"> <div class="field--item"><div class="paragraph paragraph--type--block-reference paragraph--view-mode--default" id="paragraph-27781"> <div class="field--in-border-title"></div> </div></div> </div> Wed, 20 May 2020 20:57:35 +0000 mattwagg 15496 at https://www.tateandlyle.com