Tate & Lyle PLC announces that on November 22, 2000 it entered into an agreement to sell its Universal Milling Technology (UMT) division to Andritz AG of Austria. UMT, with operations in the UK (Hull), the Netherlands, France, Germany and the USA, is one of the world’s leading manufacturers and suppliers of milling equipment and consumables to the feed industry and to other industrial sectors.
The value of net assets sold is £5 million. The sale takes the form of a sale of assets in the UK and the sale of shares in companies in the Netherlands, France, Germany, and the USA.
Sale proceeds will be used to reduce Tate & Lyle Group debt.
Charles King 020-7626-6525
Chris Fox 020-7626-6525