Tate & Lyle PLC
Tate & Lyle PLC invests in a Sugar plant in Israel
Tate & Lyle, the global renewable ingredients company, today announced the
formation of a joint-venture with an Israeli partner to build and operate a
sugar plant in Israel.
The joint-venture company will supply high quality sugars to a range of users in
the Israeli market. This will partially replace traditional sugar imports from
the European Union, which will be restricted following European sugar regime
reform and the WTO ruling on exports.
Tate & Lyle will acquire 65% equity in the new Company, the net assets of which
will be £8.1m ($14.3m).
'This investment is another example of how we are reacting positively to changes
to the European sugar regime.' said Stanley Musesengwa, Chief Operating Officer,
Tate & Lyle PLC. 'It will enable us to continue serving our customers
effectively by replacing our existing European Union exports to Israel.
'Tate & Lyle has been exporting white sugar from its London-based refinery to
Israel for over twenty-years and has built a reputation for high sugar quality,
prompt deliveries and good customer service.'
The plant will be designed by Tate & Lyle's specialist engineering division,
Tate & Lyle Process Technology.
For more information contact Tate & Lyle PLC:
Mark Robinson (Investor Relations) Tel: +44(0)20 7626 6525
Ferne Hudson (Press) Tel: +44(0)20 7626 6525
About Tate & Lyle:
Tate & Lyle is a world leading manufacturer of renewable food and industrial
ingredients. It uses innovative technology to transform corn, wheat and sugar
into value-added ingredients for customers in the food, beverage,
pharmaceutical, cosmetic, paper, packaging and building industries. The Company
is a leader in cereal sweeteners and starches, sugar refining, value added food
and industrial ingredients, and citric acid. Tate & Lyle is the world number-one
in industrial starches and is the sole manufacturer of SPLENDA® Sucralose.
Headquartered in London, Tate & Lyle is listed on the London Stock Exchange
under the symbol TATE.L. In the US its ADRs trade under TATYY. The Company
operates more than 60 production facilities in 28 countries, throughout Europe,
the Americas and South East Asia. It employs 6,700 people in its subsidiaries
with a further 4,500 employed in joint ventures. Sales in the year to 31 March
2005 totalled £3.3 billion. Additional information can be found on
www.tateandlyle.com.
SPLENDA® and the SPLENDA® logo are trademarks of McNeil Nutritionals, LLC
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