Wilmar's sweet buy expands its sugar horizons
IN A single stroke, Wilmar International has gained access to the two largest sugar-producing countries in the world - and doubled its sugar-production capacity - at a bargain.
Already the world's largest palm oil processor, Wilmar has now raised its profile as a global sugar player through a recent deal to acquire a stake in India's largest sugar refiner Shree Renuka Sugars, confirming rumours that had been swirling for months.
Shree Renuka Sugars has seven sugar mills in India and four in centre-south Brazil, with a total annual crushing capacity of 20.7 million tonnes, more than Wilmar's current 17 million tonnes. It also owns two sugar refineries in India with a capac…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
P&G raises annual core profit forecast on resilient demand, price hikes
American Express beats profit estimates on strong spending by wealthy customers
Sheng Siong shareholders press for details on capital allocation, M&A opportunities
Wilmar appoints former minister George Yeo as independent non-executive director
UOB Kay Hian says ‘disadvantageous’ to reveal details of key management’s remuneration
Deutsche Bank has cut dozens in Asia private banking overhaul