Solbar Industries, an Israel-based processor of soy proteins and soy isoflavones, closed its financial year 2001 with significant growth in sales and profits.
According to Dun & Bradstreet, Solbar Industries ranked among the 10 leading companies in sales growth in Israel during 2001, increasing sales by 44 per cent, to €58 million.
According to Marketing Director, Gary Brenner, growth was the result of Solbar Hatzor assuming full marketing responsibility for 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 dramatic growth in sales of soy isoflavones in 2001. Traditionally strong markets lie in Eastern Europe and Asia Pacific, while developmental markets in North and South America are beginning to show a return on investment.
According to Frost and Sullivan's recent report, European Phytonutrrient Market, Solbar is one out of the three companies dominating this market. The isoflavones market is expected to propel its growth during the 2001 to 2008 period, and is currently valued at €52 million.
In November 2001, Solbar purchased from IFF its Bontraeline of steam-textured soy proteins, now called Bontex. 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. All three factory plants are certified ISO 9002 and Kosher.