MOLDOVA: Four sugar refineries merged in Südzucker consolidation

The German concern Südzucker has consolidated its hold on the Moldavian sugar market, unifying three refineries with a fourth major plant. During November and December of this year the Drokiya-sakhar plant will be merged with those at Alexandren, Falesht and Dondyushen, and then be renamed Südzucker-Moldova. Throughout the rest of 2000, Sudzucker has announced plans to invest between US$4.85m-5.66m, believing that the current prices of sugar on the Moldavian market are inadequate considering the costs incurred during production.Südzucker has controlled the major 49% stake in the four plants since 1999, with the other leading shareholder, BC Moldova-Agroindbank owning 20%. Last year, the refineries produced 36000 tonnes of sugar in total.