Danisco has announced plans to close three sugar plants, one in Denmark, one in Sweden and one in Finland, in a bid to increase efficiency in advance of new EU sugar quota regulations which will come into effect at the beginning of July.
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The company said that the closures, which will result in up to 350 job losses, would help Danisco to reach previously announced earnings targets for its sugar activities of DKR600m to DKR750m.
Danisco said it plans to sell some of its sugar quotas in Sweden and Finland, while acquiring additional quota for its sugar processing facility in Anklam, Germany.
The changes are expected to reduce Danisco’s production of quota sugar by around 100,000 tonnes per year. The company said it also plans to restructure administrative functions during 2007.
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By GlobalData
