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 Wednesday January 9 2002
CSM divests confectionery operations in China
CSM nv has divested its Chinese hardboiled candy business through a management buy-out. The deal came into effect on 1 January 2002. CSM Sugar Confectionery was a small player in the pastille market in China. The operations accounted for an annual turnover of approximately EUR 5 mln. As was announced at the presentation of the CSM figures for 2000/2001, the limited operational scale led to disappointing results in China.

Wednesday December 19 2001
CSM to acquire Hero's ingredient activities
CSM nv has reached agreement in principle with Hero Nederland B.V. to acquire the latter's ingredient activities for EUR 49 mln. The deal covers the companies Carels Goes B.V. and Carels Distribution France sarl, as well as Hero Industrials activities in Breda, the Netherlands, with a total annual turnover of approximately EUR 45 mln.

Friday November 30 2001
CSM net profit rises by 18.1% to EUR 177.3 mln
CSM: Net profit from ordinary activities before goodwill amortisation rose by 18.1% to EUR 177.3 mln in 2000/2001 (1999/2000 EUR 150.1 mln). After goodwill amortisation and the incorporation of the extraordinary items net profit rose to EUR 410.9 mln. Net earnings per share from ordinary activities before goodwill amortisation rose by 17% to EUR 2.13 (1999/2000 € 1.82).

Thursday November 1 2001
CSM reorganises its chewing gum production in the Netherlands
Today, the CSM subsidiary, RBV Leaf, manufacturer of, amongst others, Sportlife, XyliFresh, Red Band, Venco and King, announces its intention to reorganise its chewing gum production capacity in the Netherlands. The reorganisation will result in the closure of the Amsterdam chewing gum production plant on 1 August 2003.

Tuesday September 18 2001
CSM restructures in France
CSM's Bakery Supplies Division Europe will terminate part of its production of normal frozen baguettes in France in favour of a further growth in speciality frozen bread and pastry products. This restructuring concerns the French company 'D‚lices de la Tour' (DLT), which specialises in the manufacture and sale of frozen bakery products, such as baguettes, breads, croissants, rolls and brioches.

Monday September 3 2001
CSM repurchases its shares
CSM has on Monday repurchased 3.3 million depositary receipts of its share capital at current market conditions. This is 3.9% of CSM's total outstanding capital. The repurchase is intended to neutralise the dilution effect of a potential conversion of the EUR 110 mln convertible bond loan issued by CSM in 1999.

Wednesday May 30 2001
CSM Suiker Pension Fund
CSM nv announces that Stichting Pensioenfonds CSM Suiker (CSM Suiker Pension Fund) has decided that, in view of the surplus in the Fund, a sum of NLG 44 mln will be refunded to the company. The refund to be made in June 2001, will be subject to Netherlands corporation tax and will be reported as extraordinary income in the consolidated annual accounts of CSM nv.

Tuesday May 15 2001
CSM finalises acquisition of Socalbe
CSM nv has finalised its acquisition of the Italian sugar confectionery company Socalbe in Bologna. The Competition Authority in Italy has approved the transaction. The acquisition, which was announced on 10 April, is effective as of on Tuesday. The total acquisition price is EUR 132 mln. Socalbe achieves an annual turnover of around EUR 130 mln and employs 420 staff.

Thursday May 10 2001
Net profit CSM first half 2001 2000-2001 EUR 80 mln
CSM announces 18.5% profit rise in first half of 2000/2001 ú Net profit up by 18.5%, rising to E 80 million * ú Net profit per share up by 18.3%, rising to E 0.97 * ú Expected increase in net profit for entire financial year in line with first six months ú Sale of Food Division finalised: book profit of E 301 million ú Integration of Bakery Supplies Europe on schedule, expected synergy benefits of E 20 million in 3 years ú Bakery Supplies North America off to weak start ú Sugar Confectionery reinforces position on European market ú Successful beet campaign in 2000 ú PURAC's turnover continues to grow strongly * Net profit = net profit from ordinary activities before amortisation of goodwill Preface from Jaap Vink, chairman of the board of management The first half of the financial year was a good but eventful period.

Tuesday February 27 2001
Sale of CSM food division to Heinz definitive
CSM nv announces that the sale of the CSM food division to H.J. Heinz Company communicated on 20 December 2000 can now be finalized. The consultation procedures with the relevant Trade Unions and Works Councils have been completed. The Competition Authority of the European Union in Brussels approved the transaction on 23 February 2001.

Friday February 16 2001
CSM cuts back bakery ingredients division
CSM wants to further improve efficiency of its European bakery ingredients division. Two smaller establishments in Germany and Italy therefore will be closed down. The production activities of the two establishments therefore will be transferred to larger establishments elsewhere. The transaction is part of the company's strategy to further integrate its bakery ingredients division in order to generate synergy advantages worth EUR 20 mln within two or three years.

Wednesday January 17 2001
Menkveld resigns his position with CSM
CSM nv hereby announces that Mr. J.H. Menkveld, member of the Board of Management with specific responsibility for the CSM food division, in connection with the intended sale of the food division, has expressed his wish to resign his position with CSM as of 1 April 2001. As was announced earlier, CSM intends selling its food division to H.J.

Wednesday December 20 2000
CSM intends to sell its food division to H.J. Heinz Company
CSM intends to sell its food division to H.J. Heinz Company CSM nv announces that its discussions with the H.J. Heinz Company regarding the sale of its food division, are at a stage where it is expected that agreement can be reached. The food division comprises the businesses of Honig Merkartikelen, HAK, Koninklijke De Ruijter, Foodmark and Anco in the Netherlands and Belgium.

Thursday December 7 2000
Net profit CSM rises by 19.6% to EUR 150 mln
The Board of Management of CSM nv, food and ingredients, is announcing that the net profit for the 1999/2000 financial year, that ended on 30 September 2000, rose by 19.6% to € 150.1 million (1998/1999 € 125.5 million). Earnings per share rose by 18.2% to € 1.82 (1998/1999 € 1.54). Net turnover rose by 23.9% to € 2,725 million (1998/1999 € 2,199 million).

Friday October 27 2000
Acquisition of Continental Sweets by CSM definitive
CSM nv announces that the acquisition of the confectionery company Continental Sweets which was announced on 12 September 2000 can now be finalized. Consultation procedures with the relevant employee organisations and representative bodies have been completed. The mergers and monopolies authorities in Belgium and the Netherlands have approved the transaction.

Friday September 29 2000
Acquisition of unilever's European Bakery Supplies Business by CSM
CSM nv announces that the acquisition of Unilever's European Bakery Supplies Business (EBSB) which was announced on 11 July 2000 can now be finalized. Consultation procedures with the relevant employee organisations and representative bodies have been completed. The European mergers and monopolies authority has approved the transaction on 28 September 2000.

Thursday September 14 2000
CSM sees food ops sold to 1 buyer
CSM expects to sell its food division as a whole to a single buyer, but is not yet in talks with any potential candidates, CSM chief executive officer told reporters on Thursday. Vink said the company is making an inventory of potential buyers and expects to be able to announce the buyer in the first quarter of next year "at the earliest." While CSM does expect to make a book profit on the sale, Vink said it is far too soon to say a sensible thing about how big that profit will be.

CSM hires ex-Vopak director
CSM announced on Thursday that R.R.Hendriks will join CSM and will take up the office of Statutory Director as of 1 October 2000. Mr.Hendriks (45) will take over the full responsibility for the corporate finance function from M.Arentsen as of 1 February 2001. Mr.Arentsen will resign as of 1 July 2001 due to reaching retirement age. Until recently Mr.Hendriks was a member of the Board of Management of Koninklijke Vopak, Rotterdam.

Tuesday September 12 2000
CSM acquires Continental Sweets
CSM announced on Tuesday the acquisition of Belgian-French confectionery company Continental Sweets from its current owners, a group of investors (Gilde Buy-Out Fund and AXA) and the Company's senior management. The acquisition price is EUR 110 mln. Continental Sweets has an annual turnover of around EUR 150 mln and an operating result of around EUR 12 mln.

Monday September 11 2000
CSM bakery ingredients split
CSM announced on Monday that it is splitting its bakery ingredients division into two separate divisions, CSM bakery ingredients division Europe and CSM bakery ingredients division North America. CSM said the split follows the strong growth of the CSM bakery ingredients division, in part due to the announced acquisition of Unilever's European Bakery Supplies Business.

Tuesday July 11 2000
CSM buys Unilever's bakery arm
CSM became the world's largest bakery ingredients company on Tuesday with the EUR 700 mln purchase of Unilever's European Bakery Supplies Business (EBSB). The sale of EBSB is part of Anglo-Dutch consumer products group Unilever's "Path to Growth" strategy to focus on fewer, stronger brands to boost sales and margins.

Thursday May 11 2000
CSM 1H net up 18%
CSM said it expects full-year net profit to increase by 15-20% from the year earlier, helped by higher organic growth in operating profit in the second half. That compares to a forecast in December for 10% full-year growth in net profit. The company noted that all divisions should show higher sales and operating profit in the second half compared to the year-earlier period.

Wednesday March 29 2000
CSM finalises sale of UK chocolate ops
CSM announced on Wednesday that it has reached final agreement with a group of private entrepreneurs concerning the sale of the chocolate activities of its subsidiary Leaf UK established in Bristol (United Kingdom). The transaction is effective as of 29 March 2000. In total some 160 employees will be affected by the transaction.

Friday February 11 2000
CSM to sell UK chocolate activities
CSM announced on Friday that it is in talks with a group of private entrepreneurs regarding the sale of the chocolate activities of its Bristol-based, Leaf UK subsidiary. Leaf UK's chocolate activities comprise the Elizabeth Shaw and Famous Names brands. The turnover of these brands amounted to some EUR 18 mln in 1999.

Thursday January 27 2000
CSM sells sugar activities Leaf
CSM announced on Thursday that it is selling its sugar confectionery activities of Leaf in Herdecke, Germany, to German Katjes Fassin of Emmerich. Financial details of the deal were not disclosed. Leaf employs 18 people and is active in the field of the sale and marketing of sugar confectionery in Germany.

Thursday January 13 2000
CSM to close Malmo plant
CSM said on Thursday that its leading position in the Scandinavian sugar confectionery market. is to rationalise its sugar confectionery division in Scandinavia to achieve a substantial improvement in efficiency. The CSM subsidiary Malaco Leaf in Scandinavia intends to close the factory at Malmo (Sweden) in mid 2001 and to transfer the production to the plants at Slagelse (Denmark) and Gavle (Sweden).

Wednesday January 12 2000
CSM in talks over lactic production in the US
CSM said on Wednesday that it is in talks with American companies Dow Chemical and Cargill on the possibility to increase its production of lactic acid in the US. Lactic acid is a key ingredient for the production of biodegradable plastics. Dow and Cargill plan to invest some USD 300 mln in the production of biodegradable plastics over the next two years. CSM is world leader in the production of lactic acid with a 70% market share.

Friday December 10 1999
CSM net up 12.5%
CSM reported on Friday net profit for the 1998/99 fiscal year increased 12.5% to NLG 276, compared to NLG 245.8 mln the company booked for the 1997/98 fiscal year. Turnover increased 12.7% from NLG 4.3 bn to almost NLG 5 bn, mainly due to acquisitions. Operating profit increased from NLG 371 mln to NLG 410, an increase of 10.9%. Earnings per share increased 11% from NLG 3.04 to NLG 3.37. CSM forecast net profit growth of over 10% for the 1999/00 fiscal year.

Thursday November 25 1999
CSM restructures UK activities
CSM said on Thursday that it will restructure its sugar confectionery activities in the UK. The restructuring will will result in the loss of 114 jobs, for which CSM has reached an agreement with the trade unions. The factories in Southport (production of Chewits fruit-toffees) and Bristol (production of the chocolate products Elisabeth Shaw and Famous Names) are to be rationalized in order to improve efficiency, CSM said.

Friday September 24 1999
CSM sells brand California
CSM is selling its soup brand California to Struik Holding for an undisclosed sum. CSM wants to concentrate on local and regional A-brands. California, which booked 1998 turnover of NLG 55 mln and is profitable, does not fit in that strategy. Struik is to continue the activities of California in Harderwijk.

Monday September 20 1999
CSM acquires US bakkery products company
CSM is taking over US bakkery ingredients company Steel City Milling over for an undisclosed sum. Steel City Milling has annual turnover of some USD 15 mln and employs 26 people. The company distributes bakkery ingredients in the East of the USA. CSM said it aims for continues growth in the bakkery ingredients sector in North-America and Europe.

Monday September 6 1999
CSM to split shares 1:2
CSM announced on Monday it will propose to split its shares 1:2. Its shares with a face value of NLG 1 will be converted into two shares with a face value of EUR 0.25. The move is aimed to improve the liquidity of CSM's shares, the company said. The company also will adjust its anti-takeover constructions.

Friday July 2 1999
CSM acquires distributor in US
CSM announced on Friday that it has reached agreement on the takeover of St.Louis Baker's Co-operative Association of St.Louis, US, with immedidate effect. St.Louis Bakers has annual turnover of USD 6 mln and employs 18 people. The company is a distributor of bakkery ingredients for the retail-bakkeries in St.Louis and will be added to CSM's BakeMark Ingredients arm.

Wednesday June 30 1999
CSM finalises acquisition of Leaf
CSM announced on Wednesday that it has finalised the acquisition of Leaf, the suger division of Huhtamaka, Finland. The takeover sum is NLG 860 mln and will be paid for in cash. CSM expects that the new acquisition will contribute to its earnings per share immediately. Leaf has annual turnover of approx.

Thursday May 20 1999
CSM H1 net profit up 12%
CSM nrc reported on Thursday net profit for the first-half of 1998 increased 12% to NLG 125.7 mln, compared with net profit of NLG 112.0 mln the company booked in the comparible period of 1997. Turnover increased 8% from NLG 1,956.6 mln to NLG 2,105.4 mln. Operating income increased 10% from NLG 168.0 mln to NLG 184.1 mln.

Monday April 26 1999
CSM acquires Leaf of Finland
CSM announced on Monday that it has reached an agreement in principe to acquire Leaf, the suger division of Huhtamaka, Finland. The takeover sum is NLG 860 mln. Leaf has annual turnover of approx. NLG 925 mln and a company result of NLG 65 mln. Net profit for Leaf was not disclosed. The company has plants in Finland, Sweden, England, Ireland, Italy and Poland, a joint venture in India and sales offices in ten European and Asian countries.

Friday January 22 1999
CSM merges US ingredient units
CSM is merging its north American bakery ingredient units Cahokia Flour Company, Karps, Westco Products and Kirkland & Rose into one unit which will be named BakeMark Ingredients. These companies operate 10 production centres and 32 distribution centres. Also a new acquisition of CSM in the US, Frank A. Serio & Sons, will be added to the new unit.

Wednesday January 20 1999
Wet autumn depresses CSM net
The record rainfall recorded last autumn depressed the net earnings of sugar and food group CSM, the company said on Wednesday. The sugarbeet harvest and processing were particularly tough. Nevertheless, CSM said net earnings in its current fiscal year to end-September, would increase becaese the results of other activities looked promising.

Thursday November 26 1998
CSM net profit up 11%
CSM reported on Thursday net profit for the of 1997 increased 11% to NLG 245.8 mln, compared with net profit of NLG 222.3 mln the company booked in the comparible period of 1996. Turnover increased 18% from NLG 3,659.8 mln to NLG 4,302.3 mln. Operating income increased 11% from NLG 332.9 mln to NLG 371.0 mln.

CSM slackens anti-takeover rules
CSM is changing its corporate structure by switching its non-convertible shares certificates into semi-convertibles. With the move, the company is giving shareholders limited voting rights. CSM is one of the Amsterdam stock exchange's most fortified companies against hostile takeovers. The company is also weighting a system whereby shareholders gain the right to vote, but can reel in the voting rights in case of a hostile takeover.

Thursday November 19 1998
CSM acquires two distributors
CSM has acquired Kicos Flour Company of Detroit and Warren Flour Company of Waco, Texas, two distributors of bakkery ingredients. The move fits in CSM's strategy to growth in this market in North-America and Europe. Details of the transactions were not disclosed. Kicos Flour Company employs 22 people with annual sales of USD 10 mln. Warren Flour Company employs 20 people and books annual sales of USD 8.5 mln.

Monday September 14 1998
CSM reorganises foods unit
CSM said it is reorganising its food unit due to overcapacity on the European pasta and rice markets. The company said it would focus on 'A' brands and concentrate production. CSM will move most of the pasta-making operations of its Belgian subsidiary Anco to Nijmegen and Hamburg in the first quarter of 1999, and Anco's printing activities will also be farmed out.

Thursday May 14 1998
CSM reports H1 net profit up 11%
CSM reports net profit for the first half of its 1997/98 fiscal year increased 11% to NLG 112.0 mln, compared with NLG 101.1 mln the company booked for the first quarter of 1997. Turnover increased 22% to NLG 1.96 bn from NLG 1.61 bn, while operating profit was 13% higher at NLG 168.0 mln from NLG 148.8 mln.

Tuesday March 10 1998
CSM acquires Cahokia Flour Company
CSM has acquired Cahokia Flour Company of St Louis, Missouri. Cahokia distributes a wide range of bakery ingredients to bakers in the central southern states of the US and has annual turnover of around NLG 180 mln. The company has operations in St Louis, Denver, Oklahoma City, Dallas, Houston, New Orleans and Atlanta. Financial details were not disclosed.

Monday February 23 1998
CSM completes take over of Boehringer
CSM has completed its takeover of German bakery ingredients group Boehlinger Ingelheim. The takeover, that will be back-dated to January 1, will increase CSM's sales by some 10% and will contribute directly to earnings per share. Boehringer has manufacturing operations in Germany, France, Italy and Spain, sales offices in Austria and Denmark and small joint ventures in Poland and Hungary. The takeover is to give CSM an important boost in the European bakery ingredient sector.

Tuesday February 3 1998
CSM forecast growth net profit around 10% for 1997/98
CSM forecast a net profit growth of around 10% for book year 1997/98. In book year 1996/97 CSM booked a net profit of NLG 222.3 mln compared with NLG 202 mln in book year 1995/96.

Bourse to appeal in CSM dispute
The stock exchange association (vereniging effecten bezitters) will appeal against CSM in a last attempt to dismantle CSM's anti-takeover constructions. Previous attempts by the VvdE to dismantle CSM's anti-takeover constructions through the courts have so far failed. CSM created a defense mechanism with shares in the form of non-convertible depositary receipts.

Hebels Financial Website believes the information herein was obtained from reliable sources but does not guarantee its accuracy. Neither the information nor any opinion expressed constitutes a solicitation of the purchase or sale of securities, derivatives or commodities. © 2002 Hebels Financial Website