6th Dec 2010 15:40
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Tate & Lyle PLC
Completion of sale of Molasses Business Tate & Lyle PLC ("Tate & Lyle") announces that it has today completed the sale of its Molasses business to W&R Barnett Ltd. The signing of a conditional agreement for this disposal was announced on 25 November 2010.
The proceeds of the sale will be used to reduce Tate & Lyle's net debt.
For more information contact Tate & Lyle PLC:
Chris McLeish, Group VP, Investor and Media RelationsTel: +44 (0) 20 7977 6211 or Mobile: +44 (0) 7919 102 730
Rowan Adams, Director of Corporate Affairs (Media)Tel: +44 (0) 20 7626 6525 or Mobile: +44 (0) 7713 067 542
About Tate & Lyle:
Tate & Lyle is a global provider of ingredients and solutions to the food, beverage and other industries, operating from more than 45 production facilities around the world. Through our large-scale, efficient manufacturing plants, we turn raw materials into distinctive, high quality ingredients for our customers. Our ingredients and solutions add taste, texture, nutrition and increased functionality to products that millions of people around the world use or consume every day.
Tate & Lyle's range of leading branded food ingredients includes SPLENDA® Sucralose, PROMITOR™ Dietary Fiber and STA-LITE® Polydextrose. Tate & Lyle also produces branded industrial ingredients including Bio-PDO™, Ethylex® and Sta-Lok® paper starches; and staple ingredients such as high fructose corn syrup, ethanol, citric acid and basic starches. In addition to providing a wide range of ingredients our Innovation and Commercial Development Group supports customers by providing product development, technical advice and proprietary consumer insight studies.
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 2010, Tate & Lyle employed 5,666 people in its subsidiaries and joint ventures, and sales totalled £3.6 billion. http://www.tateandlyle.com.
SPLENDA® is a trademark of McNeil Nutritionals, LLC
Copyright Business Wire 2010
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