CSM, which supplies food products and ingredients to food processors, has announced that it is considering the possibility of selling its sugar division which produces between 350,000 and 380,000 tons of sugar every year.
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The company said that the step should be seen as an initiative to further streamline its portfolio. “CSM intends to focus its efforts on global market-leader positions in its growth markets: bakery ingredients and bakery products on the one hand and lactic acid and lactic acid derivatives on the other,” the company said in a statement released today (16 February).
Recent liberalisation of the EU sugar market may also have played a part in the company’s decision to sell CSM Sugar. Gerard Hoetmer, CEO at CSM said: “The new EU sugar regulation will open a new era. By selling it we expect CSM Sugar to retain its strong position both in the short and long term. CSM does not see itself as the consolidator of the European sugar market.”
