Press releases

10.03.10

Nordzucker sells Serbian business activities

Nordzucker AG sold its 51 per cent stake in its Serbian investment Sunoko to its other partner in the joint venture

Braunschweig, 10 March 2010

Nordzucker AG, Braunschweig/Germany sold its 51 per cent stake in its Serbian investment Sunoko to its other partner in the joint venture. The sale was closed on 10 March 2010. The new owner takes over all the contractual and financial obligations, also with respect to the human resources.

Logical step

Dr. Niels Pörksen, the director responsible for the Eastern Europe Division explained: “Our analysis of the economic prospects of our Serbian trade investment revealed no change for the better in the foreseeable future. The raw material situation in particular is less than satisfactory. We therefore took the logical step of selling our participation.”

 

The Nordzucker Group, with its headquarters in Braunschweig/Germany, is Europe’s second biggest sugar producer, with a market share of 15.4 per cent. The company also produces other products from sugar beet, in particular bioethanol and animal feed. The acquisition of Nordic Sugar (previously Danisco Sugar) in March 2009 strengthened this leading position further. Nordzucker’s 13 sugar factories in seven countries across Europe, as well as two refineries for raw cane sugar, build the efficient technical, logistical and geographical foundations for further success in future. On the basis of sugar production of around 1.7 million tonnes, Nordzucker generated sales of around Euro 1.2 billion in the 2008/09 financial year (excluding Nordic Sugar). The Groupwide workforce of nearly 4,000 are committed to the delivery of excellent products and services.

<media 2673>Press release as PDF</media>

If you have any questions please contact Mr Heiner Reiners:
Fon: +49 531 2411-347
Mail: heiner.reiners@nordzucker.de

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