German sugar group Suedzucker said on Thursday it will not sell two of its French sites where it wants to end production, rejecting a buyout plan from French farmers.
Suedzucker, the European Union’s largest sugar refiner, wants to halt production next year at two factories of its French unit Saint Louis Sucre as part of a wider restructuring in response to a market slump that followed the scrapping of EU sugar quotas.
“Saint Louis Sucre is not going to sell the production sites,” Wolfgang Heer, Suedzucker’s chief executive, said in a statement.
“We are not going to stop sugar production in order to offer it to other operators, but to remove capacity from the market.”
Suedzucker reiterated it wanted to retain the two affected sites for storage activities.
French sugar beet farmers group CGB had drawn up a plan to buy the two sites for 30 million euros ($33.4 million).
$1 = 0.8981 euros
By Gus Trompiz
Coca-Cola is unveiling a fully plant-based PET (bPET) bottle prototype, excluding the cap and label. The beverage giant has produced a limited run of 900 bottles, confirming the prototypes are recyclable within existing recycling infrastructures, alongside PET from oil-based sources.
McDonald’s and Starbucks are committing an additional US$10 million to the NextGen Consortium, an initiative aiming to improve environmental sustainability standards in the foodservice industry. Founded by investment firm Closed Loop Partners, the Consortium is investigating methods of advancing the design, commercialization and recovery of packaging materials.
Hortifrut is purchasing Atlantic Blue for US$280 million. Atlantic Blue is a key player in the growing and marketing of berries in Europe and Northern Africa, based in Huelva, Spain. The transaction will allow Hortifrut to expand its growing area by about 20% and consolidate its position as the largest fresh blueberry platform in Europe and the UK.