Completion of sale of Molasses business
Tate & Lyle PLC (“Tate & Lyle”) announces that it has today completed the sale of its Molasses business to W&R Barnett Ltd. The signing of a conditional agreement for this disposal was announced on 25 November 2010.
The proceeds of the sale will be used to reduce Tate & Lyle’s net debt.
Group VP, Investor & Media Relations
t:(+44)207-977-6211
m:(+44)791-910-2730
e: chris.mcleish@tateandlyle.com
Director of Corporate Affairs
t:+44 (0) 207 977 6278
m:+44 (0) 7713 067 542
f:+44 (0)20 7623 5213
e: rowan.adams@tateandlyle.com
Tate & Lyle is a global provider of ingredients and solutions to the food, beverage and other industries, operating from 45 production facilities around the world. Through our large-scale, efficient manufacturing plants, we turn raw materials into distinctive, high quality ingredients for our customers. Our ingredients and solutions add taste, texture, nutrition and increased functionality to products that millions of people around the world use or consume every day.
Tate & Lyle’s range of leading branded food ingredients includes SPLENDA® Sucralose, PROMITOR™ Dietary Fiber and STA-LITE® Polydextrose. Tate & Lyle also produces branded industrial ingredients including Bio-PDO™, Ethylex® and Sta-Lok® paper starches; and staple ingredients such as high fructose corn syrup, ethanol, citric acid and basic starches. In addition to providing a wide range of ingredients our Innovation and Commercial Development Group supports customers by providing product development, technical advice and proprietary consumer insight studies.
Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. In the year to 31 March 2010, Tate & Lyle employed 5,666 people in its subsidiaries and joint ventures, and sales totalled £3.50 billion. http://www.tateandlyle.com.
SPLENDA® is a trademark of McNeil Nutritionals, LLC
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