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London’s Tate & Lyle changes hands

SUVA, Fiji (Fiji Times, Julty 19, 2010) - Tate & Lyle- Fiji’s longest standing sugar buyer has assured the Fiji Times that the country’s 300,000 ton per year contract with the company would be honored by its new owner.

"Importantly all commercial contracts will be honored by ASR (American Sugar Refining) and will be executed as originally agreed," Tate & Lyle Sugars president Ian Bacon told the Fiji Times over the weekend.

He said T&L’s refining businesses had a very long commercial relationship with the Fijian sugar industry.

"Thus as soon as it was possible, from a London Stock Exchange regulatory point of view, to inform Fiji Sugar Corporation (FSC) of the sale, announcement calls were made to FSC’s chairman and chief executive officer," he said. "Copies of both T&L’s and American Sugar Refining’s (ASR) announcements were emailed directly to them and ongoing T&L’s commercial director sugar remains in regular contact with FSC providing constant updates and information."

T&L’s assurance joins that of the ASR Sugar Refining vice-president Jonathan Bamberger on Friday, who said the new owner also wanted to buy more sugar out of here.

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