Tate & Lyle unit sold for £67m

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem TATE & Lyle yesterday sold off the last of its historic British sugar businesses – offloading its molasses distribution arm for £67m. Northern Irish commodities group W&R Barnett has bought the unit in cash, and Tate & Lyle says it will use the proceeds to pay down its net debt. The molasses business had annual sales of £228m in the year to 31 March, generating profits of £13m.The sale follows on from its decision in July to offload its main sugar and golden syrup division to American Sugar Refining for £211m, and is part of Tate & Lyle’s chief executive Javed Ahmed’s plan to focus the company on speciality food ingredients.Tate & Lyle said the sale of the final piece of its global sugar operation – a Vietnamese business – was progressing well.“I would like to thank our molasses employees for their hard work and commitment over many years and wish them every success in the future,” said Ahmed.“Our clear priority is to grow the speciality food ingredients business, supported by cash generated from bulk ingredients. This disposal represents another important step as we focus, fix and grow our business,” he added. KCS-content Tate & Lyle unit sold for £67m Share whatsappcenter_img Thursday 25 November 2010 7:28 pm whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Show Comments ▼ Tags: NULLlast_img

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