Imperial Sugar Co.’s Mexican joint venture, Comercializadora Santos Imperial (CSI), has struck a sales and marketing deal with Grupo La Margarita, a division of Empresas Machado.
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Headquartered in Mexico City, Machado owns and operates four sugar mills located throughout Mexico.
Under the terms of the agreement, CSI will market up to 130,000 tons of sugar this year throughout Mexico and the US on behalf of Machado’s mills.
The initial deal will extend until the end of 2009 but is renewable upon agreement by both parties. With the addition of the Machado production, combined sales and marketing volumes of sugar for CSI are projected to reach around 460,000 tons of sugar through year-end 2009.
“Our presence in Mexico has grown considerably since we formed the CSI partnership in late 2007 with an increasing customer list. Our strategy to expand our cross-border opportunities by leveraging the strengths of both Imperial and Ingenios Santos to enhance profits is progressing nicely,” said John Sheptor, president and CEO of Imperial Sugar.
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By GlobalDataCSI is an equally owned, joint venture that was formed by Imperial Sugar and Ingenios Santos to market Santos’ production in Mexico and to facilitate cross-border sugar trade under liberalised NAFTA provisions.
