Two Romanians take over Luduş sugar factory from French group Tereos

French group Tereos, one of the world’s largest sugar producers, has decided to sell its sugar factory in Rudouche, Mures province, to two Romanian investors in the agro-food sector, Mihaela Neagu and Mihail-Daniel. officially announced. Matache.

A statement from the French cooperative group said the deal is expected to be completed “within the next week.” Tereos, who generates €4.5 billion in annual revenue, had previously announced that it intended to close its operations in Romania. This would seriously jeopardize the activities of some 300 Romanian farmers who supplied sugar beets.

“This is a brave project that we have undertaken this year with the aim of reviving sugar production in this country. We have supplied about 25%.Because the sugar beet from the fall 2023 campaign in the Ludus region will soon be contracted, we will soon start negotiations with farmers.We have about 300 growers in the region. We want to guarantee that we will be open to cooperation, and we also want to ensure that our 150+ employees will continue to work.” Investor Michaela Neag, quoted in the group’s press release, said:

“We are very pleased to have signed these two investors. The continuation of this activity sustains jobs and sustains sugar activity in the Ludus Basin. This sale clearly allows us to stay true to our strategic plan. ” Gérard Clay, Chairman of the Tereos Cooperative Group, said:

The Ludouche Sugar Mill was opened by the communist regime in 1960, but the moral and physical wear and tear of the equipment reduced its viability, especially after the 80s.

Tereos Group entered Romania in 1992. The company, through his Tereos România SA company, where he owned the Luduş sugar factory, in 2021 he had a turnover of 158 million lei and he had a loss of 7 million lei. Since 2014, the Rudouche factory has been losing money. Since 2013, the first year in which Tereos fully owned the factory, the number of employees in the Mures division has decreased from 220 to 174 in 2021.

Tereos fully acquired the Luduş plant from another French company, Sucreries du Marquenterre, in October 2012. Tereos was previously a shareholder of the Luduş factory, but sold his 50% stake to Sucreries du Marquenterre in 2007.

In 2021, Tereos, the world’s second largest sugar producer, decided to abandon its Rudouche plant, citing lack of technology in its Mures unit as the prospects for beet sugar production remained bleak.