Sugar group expands in Italy [Sun Sentinel]
(South Florida Sun Sentinel (FL) Via Acquire Media NewsEdge) Oct. 26--ASR Group, a West Palm Beach-based sugar powerhouse, is expanding in Italy.
The group that bills itself as "the world's largest cane sugar refining and marketing company" said it bought a 50 percent stake in Europe's second-largest cane sugar refinery and in the company that sells the refinery's sugar in Italy.
The price for the multimillion-dollar deal was not disclosed.
ASR, which is owned by Florida Crystals Corp. and Sugar Cane Growers Cooperative of Florida, has been expanding in Europe.
It also owns sugar producers Tate & Lyle Sugars of the United Kingdom and Sidul of Portugal.
In Italy, ASR bought ED&F Man's 50 percent share of SFIR Raffineria di Brindisi in southern Italy. The refinery can produce 450,000 metric tons of sugar yearly. ASR also purchased from the SFIR Group 50 percent of sales company Euro SFIR Italia, which sells the refinery's sugar.
The Brindisi refinery includes a 34 megawatt cogeneration power facility that runs on agricultural biofuels.
ASR said it already operates four biomass cogeneration facilities in North America (110 MW), Central America (27 MW and 19 MW) and the Caribbean (55 MW).
ASR can produce more than 6 million metric tons of sugar yearly. The group has raw sugar mills and sugar refineries in the United States, Canada, Mexico, Dominican Republic and Belize, among other nations.
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