Governance crisis at Tereos. After the resignation of 40% of regional representatives, Tereos excludes three members of Supervisory Board from the cooperative.
Finasucre suffers from end of sugar quotas. The consolidated turnover of Finasucre decreased by 14% to €349.9mn against €406.9mn in the 2016-2017 (31 March). Its recurring EBITDA declined by 32% to €35mn.
Südzucker and DouxMatok join forces. Israeli food-tech company DouxMatok has signed a partnership with Südzucker to commercialize DouxMatok’s sugar reduction solution across Europe.
India helps reduce sugar mountain. The federal government has allowed sugar mills to manufacture ethanol directly from sugarcane juice or B molasses.
Innovation Brain to purchase HSI. Restructuring and turnaround firm Innovation Brain has signed a letter of intent for acquisition of Hellenic Sugar Industry’s business and main assets.
Launch of new state-owned food holding in Poland. The government is willing to establish a national foodstuffs group (Narodowy Holding Spoywczy) in a form of a holding company that will include KSC.
Lemarco goes into insolvency. The Romanian producer reported losses that in 2017 were three times higher than in the previous year, amounting to RON44mn (€9.4mn).