Agrana to concentrate refining activities at the Kaposvár facility
The second Magyar Cukor refinery at Petöhaza will be closed.
In the course of the latest reform of the EU sugar market
regime,
talks are currently taking place in Hungary between sugar
beet
growers, the Ministry of Agriculture and the sugar industry,
with the
goal of returning 50% of Hungary´s sugar quota to the
restructuring
fund.
This move would result in a pro rata reduction in the sugar
quota
held by the AGRANA subsidiary Magyar Cukor Zrt. Given that
the remaining volume
of sugar available to AGRANA is no longer sufficient for the
economical utilisation of two refineries, AGRANA intends,
subject to
the appropriate board resolutions, to concentrate its
Hungarian
refining activities at the Kaposvár facility in order to
make
production as efficient as possible.
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