Tate & Lyle PLC invests in a Sugar plant in Israel
This will partially replace traditional sugar imports from the European Union, which will be restricted following European sugar regime reform and the WTO ruling on exports.
The joint-venture company will supply high quality sugars to a range of users in the Israeli market. This will partially replace traditional sugar imports from the European Union, which will be restricted following European sugar regime reform and the WTO ruling on exports.
Tate & Lyle will acquire 65% equity in the new Company, the net assets of which will be £8.1m ($14.3m).
“This investment is another example of how we are reacting positively to changes to the European sugar regime,” said Stanley Musesengwa, Chief Operating Officer, Tate & Lyle PLC. “It will enable us to continue serving our customers effectively by replacing our existing European Union exports to Israel.
“Tate & Lyle has been exporting white sugar from its London-based refinery to Israel for over twenty-years and has built a reputation for high sugar quality, prompt deliveries and good customer service.”
The plant will be designed by Tate & Lyle’s specialist engineering division, Tate & Lyle Process Technology.
All content and features on this website are copyrighted with all rights reserved. The full details can be found in our privacy statement
