The Germans are buying up sugar factories in Ukraine: the crisis in the industry is over?

The Germans are buying up sugar factories in Ukraine: the crisis in the industry is over?

31.01.2017 News

Radekhivskyi tsukor company, which is the largest producer of this product in Ukraine, has closed a deal to acquire 6 sugar factories previously owned by the company T-Tsukor. We are talking about: Borshchivskyi, Buchatskyi, Zbarazhskyi, Kozovsky, Lanovetskyi and Khorostkovskyi sugar factories, which are located in the Ternopil region. It is reported by the source delo.ua.

Until 2014 T-tsukor had been in the top 3 for the production of sugar in Ukraine and was the largest producer of the western region.

In turn, Radekhivskyi tsukor from 2010 has been controlled by the German company Pfeifer & Langen, who owns assets across Europe. In Western Ukraine the Germans possess two enterprises – Radekhivskyi and Chertkovskyi sugar factories.

Representatives of the Radekhivskyi tsukor in its comments to Interfax stated that plants were collateral for loans Prominvestbank and after bankruptcy of Mriya moved into the ownership of the bank.

According to the profile association Ukrtsukor specified plants have been merged into Company Halychyna tsukor.

“Undoubtedly, the purchase of the six plants will affect the market, and we can say with confidence that in Western Ukraine competition for raw materials and crops of sugar beet will be more palpable. Since Radekhivskyi tsukor in the majority of works on tolling scheme, they should now actively work to ensure that a quorum of farmers who will produce for them a sugar beet “, – said Ruslana Butylo, who is the head of the analytical department of the association Ukrtsukor.

Also read: 4 Mriia plants now are owned by Radekhivskyi tsukor

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