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Nordzucker acquires majority stake in Mackay Sugar

Nordzucker has successfully completed the acquisition of a 70 percent majority stake in Mackay Sugar Limited (MSL), Australia’s second largest sugar producer.
  • Acquisition of majority stake of 70 percent in Australian sugar producer Mackay Sugar
  • Nordzucker opens up stable Australian market and secures access to the growth market of Southeast Asia

In February of this year, Nordzucker signed an agreement with MSL to acquire 70 percent of the company's share capital. The closing of the transaction was subject to certain conditions precedent, in particular the sale of the unprofitable sugar factory in Mossman and the approval of MSL shareholders. On July 29, 2019, the shareholders at an extraordinary general meeting also approved the transaction with a clear majority. 

Dr. Lars Gorissen, CEO of Nordzucker AG, said: "I am delighted that we have successfully completed the transaction. The negotiations with MSL and the talks with the owners were very constructive and trustful. I am confident that together we can lead the company into a successful future and that MSL will make a positive contribution to the Nordzucker Group's earnings in the medium term". 

Jochen-Johannes Juister, Chairman of the Supervisory Board of Nordzucker AG, stated: "The Supervisory Board and the owners of the company expressly welcome this move to Australia. It marks an important milestone in the history of Nordzucker AG and for the future of the company". 

Entry into the sugar cane business increases competitiveness 

Nordzucker is investing in the three plants Marian, Farleigh and Racecourse, all of which are located in the immediate vicinity of Mackay. The aim is to significantly increase the capability of the factories, which have an annual production capacity of about 700,000 tons of sugar. 

"Thanks to the cost structures, cane sugar production is profitable even at lower sugar prices and the infrastructure in the Mackay region is optimal. In addition to the stable Australian sugar market, MSL gives us access to the world's largest growth market in Southeast Asia", says Gorissen,  stressing that "Nordzucker is clearly focusing on sugar - from beet and cane." 

Read also Nordzucker's press release here

For inqueries do not hesitate to contact Christian Kionka, Head of Communications & Public Affairs,  Nordzucker Group: Phone: +49 531 2411-173, Mail: Christian.Kionka{@}Nordzucker[.]com

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