27th Jun 2012 07:00
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27 June 2012 - Tate & Lyle PLC
DISPUTE WITH WHITEFOX TECHNOLOGIES - TRIAL RESULT
NEW YORK JURY FINDS IN FAVOUR OF TATE & LYLE PLC
Tate & Lyle PLC (Tate & Lyle) announces that the jury in the case brought before the Supreme Court of the State of New York in the dispute with Whitefox Technologies has found in favour of Tate & Lyle.
The trial was referred to in Tate & Lyle's announcement of full year results on 31 May 2012. The dispute relates to certain equipment and technology supplied by Whitefox, under an agreement entered into in June 2006, for use in Tate & Lyle's ethanol production facilities at Loudon, Tennessee and Fort Dodge, Iowa (sold in March 2011) which Tate & Lyle believes was not fit for purpose.
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For more information contact Tate & Lyle PLC:
Mathew Wootton, Group VP, Investor and Media RelationsTel: +44 (0) 20 7257 2110 or Mobile: +44 (0) 7500 100 320
About Tate & Lyle:
Tate & Lyle is a global provider of ingredients and solutions to the food, beverage and other industries, operating from over 30 production facilities around the world.
Tate & Lyle operates through two global business units, Speciality Food Ingredients and Bulk Ingredients, supported by Innovation and Commercial Development. The Group's strategy is to become the leading global provider of Speciality Food Ingredients through a disciplined focus on growth, and by driving the Bulk Ingredients business for sustained cash generation to fuel this growth.
Speciality Food Ingredients include starch-based speciality ingredients (corn-based speciality starches, sweeteners and fibres), no calorie sweeteners (including SPLENDA® Sucralose) and Food Systems which provides blended ingredient solutions. Bulk Ingredients include corn-based bulk sweeteners, industrial starches and fermentation products (primarily acidulants). The co-products from both divisions are primarily sold as animal feed.
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 2012, Tate & Lyle sales totalled £3.1 billion. http://www.tateandlyle.com. SPLENDA® is a trademark of McNeil Nutritionals, LLC.
Copyright Business Wire 2012
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