May 9 - As announced earlier today by the Fiji Sugar Corporation Ltd, Tate & Lyle has entered into a long-term agreement on the supply of raw sugar for preferential import into the European Union market. The contract for the supply of up to 300,000 tonnes of sugar per year will run until 30 September 2015.
Ian Bacon, Chief Executive, Tate & Lyle, Sugars commented: “We are delighted to have concluded a new long-term contract for the supply of up to 300,000 tonnes of sugar per year from Fiji to Tate & Lyle in Europe. This is another significant step towards meeting our strategic supply objectives.
“This is a positive move for our European sugar business and follows recent announcements such as the switch of the UK retail brand to Fairtrade; investment in renewable energy technology at our Thames Refinery; and investments in Lao and Italy.
“We look forward to continuing to work closely with the Fijian sugar industry in the years to come.”
Tate & Lyle and FSC have had long-term supply agreements since 1975 which marked the inception the ACP-EU Sugar Protocol. The Sugar Protocol will come to an end on 30 September 2009 and the preferential exports of sugar to the European Union will be governed by the provisions of the Economic Partnership Agreement between Fiji and the European Union.
About Tate & Lyle
Tate & Lyle is a world leading manufacturer of renewable food and industrial ingredients. It uses innovative technology to transform corn and sugar into value-added ingredients for customers in the food, beverage, pharmaceutical, cosmetic, paper, packaging and building industries. The Company is a leader in cereal sweeteners and starches, sugar refining, value added food and industrial ingredients, and citric acid. Tate & Lyle is the world number-one in industrial starches and is the sole manufacturer of SPLENDA® Sucralose.
Headquartered in London, Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. In the US its ADRs trade under TATYY. The Company operates more than 50 production facilities throughout Europe, the Americas and South East Asia. In the year to 31 March 2007, it employed 6,900 people in its subsidiaries with a further 2,300 employed in joint ventures. Sales in the year to 31 March 2007 totalled £4.0 billion.