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Tate & Lyle Sell Sugar Trading Business To Bunge
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Today's News
 
 
Tate & Lyle Sell Sugar Trading Business To Bunge
Tate & Lyle has sold its international sugar trading operations to Bunge for an undisclosed amount.

The disposal represents another step in delivering on Tate & Lyle’s strategy of reducing its exposure to volatile commodity markets.

The disposal will allow Tate & Lyle Sugars to concentrate on its core sugar refining operations. In conjunction with the sale, the raw cane sugar sourcing team in the Group’s EU sugar refining operations is being strengthened to ensure it has the appropriate resources going forward to support and develop its key supplier relationships.

Iain Ferguson, Chief Executive of Tate & Lyle said: “Our international sugar trading operation is a good business. However, the recent sale of our sugar businesses in the Americas and the restrictions on exports from our EU cane sugar refineries, which were implemented as part of the EU Sugar Regime reforms, have reduced the value of international sugar trading to Tate & Lyle."
Item last updated:   Friday July 04 2008 14:03
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