Tereos To Close Romanian Sugar Factory After Takeover Talks Fail

French sugar and ethanol group Tereos has decided to close and dismantle its factory in Romania after talks with a local company interested in taking over the plant failed to go through.

The interested company was Romanian group Scandia Food, which is actively looking at potential acquisitions to consolidate its business.

The plant, which in 2020 had around 180 employees and is one of Romania’s two last-remaining sugar processing plants, has been loss making amid a steady reduction in the amount of land planted with sugar in the country.

It had a capacity of 60,000 tonnes of sugar but had strongly reduced volumes in the past years. Its final closure was planned for the beginning of 2023, the spokesperson said.