Strong sales growth for Solbar

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Related tags: Solbar, Soybean

Israeli manufacturer of soy proteins and soy isoflavones Solbar
Industries closed the 2001 financial year with significant growth
in sales and profits.

Israeli manufacturer of soy proteins and soy isoflavones Solbar Industries closed the 2001 financial year with significant growth in sales and profits.

According to US business analysts Dun & Bradstreet, Solbar Industries increased sales by 44 per cent to $57 million (€58.4m) and is now ranked among the 10 leading companies in sales growth in Israel in 2001.

In a statement this week Solbar marketing director, Gary Brenner, attributed the growth to the fact that Solbar Hatzor has assumed full marketing responsibility for the export of its soy protein concentrates and textured soy concentrates following the termination of a partnership with ADM Soya Mainz in December 2000.

The company's nutraceuticals division, Solbar Plant Extracts, also showed a strong growth in sales of soy isoflavones in 2001. Traditionally strong markets lie in Eastern Europe and Asia Pacific, with developmental markets in North and South America starting to show a return on investment.

According to a recent report on the European phytonutrient market from market analysts Frost and Sullivan Solbar is one of the three companies that are currently dominating the market. The isoflavones market, currently valued at $51 million, is expected to propel its growth during the 2001 to 2008 period.

In October 2002, Solbar will complete a major investment for a new line of multi-functional soy protein concentrates, Solcon S, to be applied in a wide variety of food systems, meat and non-meat. Solbar​ has two production sites in Israel and one in the UK.

Related topics: Market Trends

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