Tate & Lyle PLC invests in a Sugar plant in Israel

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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.

About Tate & Lyle: 
Tate & Lyle is a global provider of solutions and ingredients for food, beverage and industrial markets.

Tate & Lyle operates through two global divisions, Food & Beverage Solutions and Primary Products, supported by the Innovation and Commercial Development and Global Operations teams. Food & Beverage Solutions is focused on growth by building leading positions globally in the categories of beverages, dairy, and soups, sauces and dressings. Primary Products is focused on delivering steady earnings and generating cash.

Food & Beverage Solutions consists of: Texturants, including speciality starches; Sweeteners, including low- and no-calorie sweeteners; and a Health and Wellness portfolio comprising mainly speciality fibres; and Stabilisers and Functional Systems, which are bespoke ingredient blends that ensure foods retain their structure.

Primary Products consists of high-volume sweeteners, industrial starches and fermentation products (primarily acidulants).  It also sells co-products from the corn milling process as animal nutrition.

Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. In the year to 31 March 2019, Tate & Lyle sales totalled £2.8 billion. For more information, please visit http://www.tateandlyle.com or follow Tate & Lyle on Twitter or Linkedin.