Amid the ongoing Greek crisis, Polish state-owned sugar producer Krajowa Spółka Cukrowa (KSC) plans to buy its Greek competitor Cristalco Hellenic Idiotiki Kefalaiouchiki Etaireia, Polish daily Puls Biznesu informed. The expansion is forced by falling sugar prices, the newspaper asserts.
“The KSC development strategy foresees an intensification of commercial activity of the company in the Central and Eastern Europe region,” said Marek Spuz vel Szpos, CEO of KSC.
According to the company’s spokeswoman Magdalena Bożko, cooperation with Greece’s Hellenic Sugar Industry is part of the strategy that has been executed for a few years.
The acquisition in Greece is not the company’s first foreign expansion. In 2011, KSC bought Moldova Zahăr in Moldavia.