Europe’s largest sugar refiner Suedzucker plans to close a 50,000 tonne-a-year production plant in Poland, it said on Tuesday, part of a restructuring programme to counter a slump in sugar prices.
The company also recently announced it will close sugar factories in Germany and France, but said on Tuesday the latest closure means it will have achieved its output reduction target.
Suedzucker said in January it planned to cut production capacity by around 700,000 tonnes per year as part of a plan to save about 100 million euros ($112.8 million) annually.
The latest plant to be closed is in Strzyzow in south-east Poland, a Suedzucker spokesman told Reuters. The facility has about 70 employees and will close this year.
“With this closure we will have reached our target of 700,000 tonnes,” he said.
On Feb. 14, Suedzucker unit Saint Louis Sucre announced the closure of two French plants with a combined capacity of around 450,000 tonnes.
That came two weeks after it said it would close two plants in Germany which together produce around 200,000 tonnes of sugar a year.
Raw sugar futures ended 2018 at their lowest in 10 years, pressured by heavy global oversupply.
The European Union liberalised its sugar market in September 2017, ending its system of guaranteed minimum prices and protected production quotas.
That gave European producers more freedom to expand and export, but left them exposed to collapsing world prices. ($1 = 0.8864 euros)
By Michael Hogan
Source: Reuters
The facility is designed to foster innovation and deepen collaboration with customers, by offering a range of new services and solidifying its role as a central hub for customer support. Tereos’ team, supported by a network of 50 scientists, will ensure customers can innovate and meet the rising consumer demand for healthier and more sustainable products.
Glanbia has agreed to acquire Flavor Producers from Aroma Holding for an initial consideration of $300 million. Flavor Producers is a US-based flavour platform, providing flavours and extracts to the F&B industries, with a focus on organic and natural ingredients.
Lesnard, who previously worked at Nike, The North Face and Sephora, has a mission to “grow and sustain GODIVA’s position and expertise in the premium chocolate category, leveraging ongoing support from pladis to take GODIVA and its legendary chocolate to new heights.”
