Tate & Lyle PLC
16 August 2000
Tate & Lyle PLC - Disposal of Sweetlix
Tate & Lyle PLC announces that on August 15, 2000 its subsidiary PM Ag
Products Incorporated sold its wholly-owned Sweetlix business to a
newly-formed company, Sweetlix, LLC, of Seattle, Washington, owned by Seattle
investor Joe Brotherton. Under the terms of the sale, Sweetlix, LLC acquired
three feed block plants located at Syracuse, Indiana; Montgomery, Alabama; and
Fort Worth, Texas, and associated working capital.
The value of net assets to be sold is US$11.0 million (£7.3 million).
Sale proceeds will be used to reduce Tate & Lyle Group debt.
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