25th Oct 2006 09:00
Tate & Lyle to Explore the Full or Partial Disposal of its European StarchOperations Tate & Lyle announces that, following the EU's adoption of a new regulatoryregime for the sugar industry which took effect on 1 July 2006, Tate & Lyle hasreviewed its plans for the future of its Food & Industrial Ingredients, Europedivision ("TALFIIE" or "the business") and has concluded that ownership of thebusiness is no longer an essential element of its strategy to focus on valueadded ingredients. Tate & Lyle is therefore exploring the possibility of the full or partialdisposal of TALFIIE. Tate & Lyle believes that the interests of TALFIIE and its employees may be bestserved by the transfer of all or part of the business to an owner whoseobjectives and strategy are more closely aligned with the business and itsinvestment opportunities. Tate & Lyle will continue to develop its value added food ingredients businessin Europe through its Global Food Ingredients Group, which includes CesalpiniaFoods Srl. As previously advised, Tate & Lyle will continue to seek tosupplement its value added business through the further acquisition of bolt-oningredient companies. Iain Ferguson, Chief Executive of Tate & Lyle said "The decision to explore afull or partial disposal of Food & Industrial Ingredients, Europe is in responseto the consequences of far reaching reform to the EU sugar regime and builds onthe recently announced consultation on the surrender of quota in our EasternSugar joint venture. Today's announcement reflects our strategic commitment tofocus on growing our value added ingredients business." Further announcements will be made as appropriate. END \* TCONTACTSMark Robinson, Director of Investor RelationsTel: 020 7626 6525 or Mobile: 07793 515861 Ferne Hudson, Head of Media and Public RelationsTel: 020 7626 6525\* T About Tate & Lyle: Tate & Lyle is a world leading manufacturer of renewable foodand industrial ingredients. It uses innovative technology to transform corn,wheat 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, valueadded food and industrial ingredients, and citric acid. Tate & Lyle is the worldnumber-one in industrial starches and is the sole manufacturer of SPLENDA(R)Sucralose. Headquartered in London, Tate & Lyle is listed on the London Stock Exchangeunder the symbol TATE.L. In the US its ADRs trade under TATYY. The Companyoperates more than 65 production facilities in 29 countries, throughout Europe,the Americas and South East Asia. It employs 7,000 people in its subsidiarieswith a further 4,800 employed in joint ventures. Sales in the year to 31 March2006 totalled £3.7 billion. Additional information can be found on this websitewww.tateandlyle.com. SPLENDA(R) and the SPLENDA(R) logo are trademarks of McNeil Nutritionals, LLC Copyright Business Wire 2006Related Shares:
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