The French government asked Suedzucker on 13th March to review its plans to close two beet sugar factories and a packaging plant in France, as the publicly listed German sugar maker seeks to cut costs of its operations amidst reduced profitability amidst global glut and low sugar prices.
As part of a wider restructuring plan, the sugar giant Suedzucker is to close two beet sugar factories in France and two in Germany, reported Reuters.
The sale of three sugar plants in central Turkey has been cancelled, the head of Turkey’s Food and Sugar Industry Workers Union (FSIWU) said on 27th December, according to local press reports.
China – 8 new beet sugar factories commence operation in Inner Mongolia in 2018/19 [Full subscriber]
Beet sugar sector is expanding in Inner Mongolia as new factories commence operations, according to local press reports. Speaking at a forum on 9th September, Zhang Youji, chairman of Yinglian […]
Turkey – Government takes a loss of US$85 million from selling four sugar factories [Full subscriber]
In early June, the Turkish government has taken a loss TRY415.32 million l(US$ 85.3 million) from the sale of four state sugar factories, according to local press reports citing union of sugar industry workers
The Turkish government is set to privatize 14 of its 25 sugar factories through tendering in April, according to local press reports.
The agri-business Pokrovsky is modernizing its three beet sugar factories with a 1.5 billion rubles (US$26.3 million), according to the company’s press release.
Germany’s Pfeifer & Langen has completed the acquisition of six sugar factories previously owned by bankrupt T-Zukor, according to Interfax-Ukraine.
The Austrian food company Agrana has agreed to buy a majority stake in Serbia’s major sugar producer Sunoco from the Serbian agro-industrial conglomerate MK Group, the companies said in separate press releases on 29th June.
The acquisition will increase the capacity of its sugar division by 30-35%.