BRAZIL/NETHERLANDS: Avebe, Pilao Quimica launch starch producing jv
Dutch starch producer Avebe is set to launch a joint venture with the Brazilian manufacturer of tapioca-based starch and derivatives, Pilao Quimica Ltda . For Avebe, the venture is planned to give the Dutch company a stronger foothold in the Brazilian market and the firm revealed that it hopes to increase its current stake to a 51% majority share holding within the next few years. The sales of starch derivatives will be coordinated from the company's newly built sales office in Brazil, fitting in with the company's long term plan of assigning its subsidiaries outside Europe greater responsibility for their own commercial and financial results.
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