Dutch potato starch producer Avebe is to pull out its branches from 60 countries round the world because of disappointing profits, the company revealed yesterday [Wednesday].
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Without giving any specific details, Avebe admitted that its investments abroad had been substantial. Once the withdrawal is completed, the company will continue to operate in 20 countries outside Europe, including areas such as Asia and the Pacific region.
Avebe currently relies on its Dutch market for profit growth, which is recorded at about 10%.
