Guarani makes top three
In a move that exemplifies the Brazilian ethanol market, ethanol producer Acucar Guarani has acquired the Mandu mill based in Sao Paulo, Brazil.
It is thought that around 50% of the 400 smaller mills located in the state will be taken over by larger-scale companies.
And Acucar Guarani is no different, purchasing the mill for BRL345 million (€154 million) and its debt, which, in December 2009, was thought to be around BRL255.5 million.
With its capacity to crush 3.5 million tonnes of sugarcane annually Guarani predicts that the mill will produce 200,000 tonnes of sugar and 175 million litres of ethanol throughout 2010, as well as the generation of 12MW of bioelectricity.
With an expanding portfolio of five mills in the north of Sao Paulo the acquisition is set to make Guarani the third largest sugar and ethanol firm in Brazil. This comes just one month after oil company Petrobras parted with BRL1.6 billion for a 45.7% share in the business.
The CEO of Acucar Guarani, which is controlled by France-based sugar company Tereos, Jacyr Costa Filho said: ‘We’re looking ahead to any other opportunities that come up. If they do…we’re going to take part.’
It is thought that around 50% of the 400 smaller mills located in the state will be taken over by larger-scale companies.
And Acucar Guarani is no different, purchasing the mill for BRL345 million (€154 million) and its debt, which, in December 2009, was thought to be around BRL255.5 million.
With its capacity to crush 3.5 million tonnes of sugarcane annually Guarani predicts that the mill will produce 200,000 tonnes of sugar and 175 million litres of ethanol throughout 2010, as well as the generation of 12MW of bioelectricity.
With an expanding portfolio of five mills in the north of Sao Paulo the acquisition is set to make Guarani the third largest sugar and ethanol firm in Brazil. This comes just one month after oil company Petrobras parted with BRL1.6 billion for a 45.7% share in the business.
The CEO of Acucar Guarani, which is controlled by France-based sugar company Tereos, Jacyr Costa Filho said: ‘We’re looking ahead to any other opportunities that come up. If they do…we’re going to take part.’
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