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.
Related news
In February, the annual inflation in Romania was 7.2 percent
In February, the annual inflation rate in Romania was 7.2…
Read more >Asahi to close Meantime brewery in UK
Production of Meantime and Dark Star will now move to…
Read more >Grupo Bimbo ‘to buy six bakeries in Romania’
The baked goods manufacturer acquired the local bakery group Vel…
Read more >Related news
Seven trends shaping in-store marketing and retail design in 2024
Smart brands know that in-store marketing and store design can…
Read more >2024 is a year of challenges for the tobacco industry and retail
Annual tobacco retail sales are expected to have increased in…
Read more >The latest issue of Trade magazine is out now!
The digital version is available with more content once again,…
Read more >