Tate & Lyle will say more about Euro disposal soon

Manufacturing News, Source : TheManufacturer.com
Published : 29 Mar 2007 12:13

Sugar, sweeteners and industrial starches group Tate & Lyle said today that it would have more to say about the disposal it announced in October of its European food and industrial ingredients operation “within the next few weeks”.

In a routine update the group said overall trading performance for 2006/2007 had been in line with market expectations and had continued to comfortably exceed the corresponding period of the prior year.

Sales and profits of Splenda sweeteners were expected to only modestly exceed the prior year and the company said it wopuld provide a further update on what it was doing about that aspect of its at the annual results presentation in May.

The statement added that following the group’s decision to cease production of citric acid at its Selby, Yorsshire site, it had reviewed the farmed fish food nutient astaxanthin business carried on at the same site and decided to take an impairment hit which together with the citric plant closure costs would amount to £35 million.

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