Nordzucker's three new sugar plants make a total of six

German Nordzucker has taken over a majority of shares in three more Polish sugar-mills in Chelmza, Melno and Krasnica, completing the transaction with the State Treasury last week. The company has 51% of shares in each of the new acquisitions, and this brings the number of sugar mills Nordzucker controls to six. Previously the company took over factories in Wschowa, where Nordzucker owns 90% of the shares, in Opelanica, where it has 71%, and in Szamotuly, having a 51% share packet. Nordzucker experts are now considering what investments should be made in the newly controlled factories. They were unable to prepare plans in advance since they did not know the exact condition of the plants. The price for shares of each sugar factory was determined on the basis of their value in the spring of 1999. Nordzucker is willing to buy 6 more factories in Poland, but if the Treasury Ministry decides to create a single holding, Polski Cukier, the investments made by Nordzucker thus far will be the last foreign investments in the privatization of the Polish sugar industry. No decision has yet been made. (Puls Biznesu, p. 6)