More Commodities - Sugar

Sugar: Nordzucker announces drastic cuts

December 13, 2018 at 9:43 AM , Der AUDITOR
Company headquarters of the Nordzucker AG in Braunschweig, Germany @ Nordzucker AG
Company headquarters of the Nordzucker AG in Braunschweig, Germany @ Nordzucker AG
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FRANKFURT. In July, the EU Commission was still reckoning with an EU sugar production of 20.1 million mt. This figure has since been revised downwards several times.


Dramatic cuts in personnel costs

In a press release issued on 11 December, the Nordzucker AG anticipates an operating loss of EUR 40 million this year. The Group also expects average earnings to be lower than in previous years and is planning to implement effective measures. "In our core business of beet sugar in Europe, we will adapt our processes, organisation and cost structure to the changed market conditions,” CEO Dr Lars Gorissen, stated.

Nordzucker AG's realignment includes its entry into cane sugar production outside Europe. Most

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