French sugar producer Tereos has reached an agreement with the grain cooperative Axereal to sell its stake in their malt business and is in consultation with unions to close its sugar business in Romania.
Tereos to supply HFS to Avantium for its commercial-scale biobased FDCA plant in Netherlands [Full subscriber]
The biotech start-up Avantium signed a multi-year strategic supply agreement with the Tereos cooperative group on 10th December, whereby Avantium Renewable Polymers will purchase high fructose syrup made from locally grown wheat as the feedstock for the planned FDCA (furandicarboxylic acid) flagship plant in Delfzijl.
Tereos vows to press ahead to cut debts as it seeks to divest from ventures in China and Romania [Full subscriber]
Top sugar producer Tereos is going to press ahead with plans to cut its debts and improve its results, as it posted an annual net loss which reflected the impact of asset depreciation, reported Reuters.
France – New beet washing station at Tereos’ Connantre plant – costing €17 million [Full subscriber]
A new sugar beet washing station was installed at Tereos’ Connantre plant on 17th and 18th May. Costing €17 million, it will be able to process 27,000 tonnes of beets per day – a record in France.
The world’s second-largest sugar producer Tereos recently reported higher third-quarter core earnings on the back of improving sugar prices, but the French company said factors including the coronavirus pandemic and a weak Brazilian real would curb profits in the year ahead.
The sugar and ethanol cooperative Tereos said it had secured a state-guaranteed loan of €230 million (US$269 million), which should help it meet challenges posed by the COVID-19 crisis, reported Reuters.
The sugar group Tereos has managed to navigate through the choppy waters of the market place and returned to profit in 2019/2020. The impact of the Covid-19 pandemic felt in the latter part of the financial year will doubtless be greater next year.
French group Tereos has asked regular suppliers for a 7% price reduction to help it through difficult conditions created by tumbling sugar prices, according to a letter seen by Reuters.
French sugar group Tereos said on 6th February a rebound in sugar prices and strong ethanol demand should help it boost its performance until the year-end after posting improved third-quarter results, although its debt level continued to rise, reported Reuters.