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Industry: Email Alert RSS FeedSaint-Louis-Sucre loses Slaska - Brief Article - Statistical Data Included
Eurofood, August 2, 2001
Aldona Kamela-Sowinska, the Polish Treasury Minister, has announced Slaska Spolka Cukrowa will not be sold to French company Saint-Louis-Sucre (SLS).
The French concern had agreed to purchase Slaska last year in a deal worth P1Z250m (70.7m [European Dollar]).
However, Kamela-Sowinska has been under increasing pressure to include Slaska in Polish Sugar, a national sugar holding to be created later this year. Added to this pressure was the recent agreement by SLS to be acquired by German sugar company Sudzucker. News that one of Poland's top sugar companies would ultimately end up in the hands of a German firm did not go down to well in Poland. Many politicians in Poland oppose foreign capital investment in local industries.
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Slaska Spolka Cukrowa, with its 16 sugar refineries will now form an integral part of Polish Sugar, along with another 28 firms.
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