Adelie Foods, parent company of Buckingham Foods and Food Partners Group, looks set to expand after receiving investment from India Hospitality Corporation (IHC) Global Foods.IHC primarily looks to acquire and successfully operate Indian businesses or assets in the hospitality, leisure, tourism, travel and related industries, but this is its first major move into the UK market.Retail sandwich manufacturer Buckingham Foods, and Food Partners – which supplies and distributes sandwiches, salads and prepared fruit products to the UK foodservice sector, including the £50m food-to-go brand URBAN eat – look set to benefit from the deal, as IHC said it hopes to use its extensive knowledge and experience to help Adelie achieve its ambitious plans for future growth. IHC is led by two entrepreneurs, Ravi Deol and Sandeep Vyas, who founded successful Indian coffee shop chain Barista, as well as having been involved with some of the largest global retail and food brands in the world.Chairman Deol said IHC recognised “the inherent potential to develop it into a global player in its sector”, while simulaneously strengthening its position in the UK.
FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):The U.S. Energy Information Administration is forecasting a 17% decline in fourth-quarter coal production from the year-ago period.According to its latest “Short-Term Energy Outlook,” the EIA expects total U.S. coal production to sink to 159 million tons in the final three months of the year, a decline of 34 million tons from the fourth quarter of 2018. Declining coal demand, bankruptcies, ownership changes and mine closures have “contributed to a fluctuating production environment” in the western coal region, especially in the Powder River Basin, according to the report.This year’s coal production is expected to total 679.3 million tons, an increase from the administration’s September projection of 673.9 million tons. But the EIA’s 2020 production outlook fell from 617.3 million tons in September to 603 million tons in October.For 2019, Western coal producers are forecast to see the largest percentage decrease in output from 2018, with an 11.6% reduction to 369.7 million tons. Miners in the interior region are expected to produce 8.5% less coal, totaling 125.5 million tons, and Appalachian producers are expected to see a 7.9% drop to 184.2 million tons.EIA’s report also includes a 12% decline in 2020 coal exports from its September forecast. The administration projected that coal exports will total 75 million tons, a 10 million-ton reduction due to declining demand in the Atlantic Basin, a surplus of Eastern European coal supply and a lack of West Coast coal terminal capacity to reach the Asian markets. This year, it expects U.S. producers to export 91.8 million tons of coal, an even starker outlook from the 94.2 million tons projected in September.Coal consumption is expected to drop to 596 million tons this year and then to 544 million tons in 2020.More ($): EIA projects 17% YOY coal output decline in Q4 amid bankruptcies, falling demand EIA: U.S. coal consumption to drop below 600 million tons this year read more