Updated at 7:44 a.m., Wednesday, March 21, 2007
Sugar production business not easy in Europe, either
By Thom Rose
Bloomberg News Service
Suedzucker plans to close plants in Gross-Gerau and Regensburg, the Mannheim, Germany-based company said today in an e-mailed statement. The company will decide in May when to close the plants, and didn't say how many jobs are to be cut.
The 27-nation European Union, the world's second-biggest sugar exporter, is reducing shipments after Brazil won a World Trade Organization dispute in 2005 that stops growers from sending excess production abroad. Suedzucker, controlled by almost 30,000 German sugar-beet farmers, said yesterday that it had a full-year loss after sugar prices fell.
