Tate & Lyle will be teaming up with Gadot Biochemical Industries in a joint-venture to operate a sugar plant in Isreal.
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The UK ingredients firm confirmed to just-food that Gadot, a manufacturer of ingredients and fine chemicals for the food & beverage industries, would be the other part of its joint enterprise – called Tate & Lyle Gadot Manufacturing.
The venture, which was initially announced in March this year, will supply sugars to a range of users in the Israeli market in a bid to replace traditional sugar imports from the European Union, set to be restricted following European sugar regime reform and the WTO ruling on exports.
Tate & Lyle COO Stanley Musesengwa said in March: “This investment is another example of how we are reacting positively to changes to the European sugar regime. It will enable us to continue serving our customers effectively by replacing our existing European Union exports to Israel.”
The new company’s shares will be held 35% by Gadot and 65% by Tate & Lyle, with its plant to be built at Gadot’s premises in Haifa Bay, Israel.
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