Nordzucker plans to close two plants and buy five more

German sugar concern Nordzucker intends to close two refineries in Szamotuly and Mielno and is hence seeking an investor to take over the assets of the two companies. According to Nordzucker representative Adam Koziolek, they are the least profitable refineries, each producing around 20,000 tonnes of sugar annually and together employing around 300 people. "The value of this kind of transaction is hard to assess as it all depends on how many jobs a potential investor will provide. We are ready to sell the assets of both refineries for very little on condition that the investor promises to maintain full employment," said Koziolek. The German concern, which owns six sugar refineries in Poland, is currently interested in the purchase of five refineries from the so-called Gdansk and Szczecin groups. "In all five cases we have managed to negotiate social and investment packages as well as agreements with sugar planters. The takeover has been hindered, however, by Polish Sugar. Currently, the issue is being analyzed by Poznan and Torun courts," added Koziolek. (Puls Biznesu, p. 10) A.Z.