Wilmar Acquires Sucrogen for US$1.47 Billion

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Monday, 05 July 2010 09:17

Wilmar Australia Pty Ltd, a wholly-owned subsidiary of Wilmar International, has entered into share sale agreement with CSR Ltd to acquire 100% shares in Sucrogen ltd, Australia, for US$1.47 billion.

Sucrogen is a company incorporated in the state of Queensland, Australia and is wholly-owned by CSR. Sucrogen operates sugar and renewable energy businesses and participates across all aspects of the sugar value chain including:

Cane Products: Largest Australian raw sugar producer and second largest exporter of raw sugar globally, with seven mills capable of producing 2.1 million metric tons of raw sugar per year, located in Queensland. Sucrogen, through Queensland Sugar Limited is a market-leading exporter to the Asian region. It is the largest renewable energy generator from biomass using cane bagasse, a waste by-product of cane sugar production, and maintains electricity cogeneration capacity of 171 megawatts, with surplus sold to Queensland’s electricity grid.

Sweeteners: Largest sugar refiner in Australia and New Zealand, with annual production capacity of 970,000 MT of refined sugar from three refineries. In addition to supplying the domestic markets, substantial tonnage is exported to Asia. The business supplies a broad range of industrial and consumer end-markets and is supported by a leading brand portfolio including CSR and Chelsea. In addition, Sucrogen, in its joint venture with Mackay Sugar Limited, holds the exclusive Australian and New Zealand distribution licenses for Equal, an artificial sweetener; and

Bioethanol: The second largest Australian producer of fuel bioethanol and the largest supplier of industrial ethanol to the Australian market for over 100 years.

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