Südzucker wants to save up to 100 million euros a year
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With this restructuring plan the executive board of Südzucker AG targets to reduce the impact of the strong price variation in global and EU sugar markets on the sugar segment and therefore to secure and strengthen the sustained economic corporate success. The restructuring plan envisages measures along the whole value chain. In Germany and other European countries it contemplates - besides additional general cost reduction measures in administration - also capacity adaptations that could lead to factory closures with a reduction of the sugar production volume of up to approximately 700,000 tonnes p.a.
The objective is to streamline the capacities more alongside the European market demand. Total cost savings impact could amount up to approximately EUR 100 million p.a.The implementation of the restructuring planned by the executive board requires approval by the supervisory board. Decisions are aimed to be taken in the upcoming weeks following further consultations of the supervisory board.
The executive board will promptly inform the works councils and the employees about the status of its planning.
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