Nordic Sugar completes sale of seed business
Nordic Sugar has closed the sale of Maribo Seed International to Syngenta.
Following authority approval in all relevant countries, the sale of Nordic Sugar's beet seed activities was concluded at the agreed price of EUR 43 million on 30 September 2010. The new owner takes over the activities of Maribo Seed International as well as the Maribo® brand name, and the staff will be transferred to employment by Syngenta.
Managing Director Thomas B. Olsen, Nordic Sugar A/S, comments:
'The sale of Maribo Seed International is a step in our strategy of further concentrating our resources in the core business of production and sale of sugar. With our commitment to customer focus, continued efficiency improvement and sustainability, we are well-positioned to contribute to the concerted efforts of the Nordzucker Group towards achieving a leadership position in the European sugar market.'
For further information:
Thomas B. Olsen, Managing Director, Nordic Sugar A/S, tel. +45 3266 2500
Dorthe Lindgreen, Communications/Manager, Nordic Sugar A/S, tel. +45 3266 2588/
+45 4011 6695