The UK sugar producer and ingredients company Tate & Lyle has announced that it will build and operate a sugar plant in Israel with an Israeli partner.
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The joint venture will supply sugar to a range of users in the Israeli market, partially replacing traditional sugar imports from the EU, which will be restricted following the reform of the EU sugar regime and World Trade Organisation ruling on exports.
“This investment is another example of how we are reacting positively to changes to the European sugar regime,” said Tate & Lyle chief operating officer, Stanley Musesengwa. “It will enable us to continue serving our customers effectively by replacing our existing European Union exports to Israel.
“Tate & Lyle has been exporting white sugar from its London-based refinery to Israel for over twenty-years and has built a reputation for high sugar quality, prompt deliveries and good customer service.”
Tate & Lyle will acquire 65% stake in the new company, the net assets of which will be GBP8.1m ($14.3m).
The facility will be designed by Tate & Lyle Process Technology, the company’s engineering division.
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By GlobalData
