Agrana will not come to Serbia after all
CFO of the Austrian corporation Agrana, Stephan Buttner, has told the APA agency that plans for further expansion will be considered only when the price of sugar stabilizes.
The Austrian sugar producer planned, before the drop in sugar prices on global markets, to enter the market of Serbia.
„The current price of sugar does not allow us any further acquisitions,“ Buttner explained in a statement to the APA agency, Belgrade-based media reported.
According to him, only when the price of sugar is stabilized will Agrana begin to consider acquisitions. However, according to Buttner, this will take at least one or two years.
In 2016, Agrana decided to expand and, in 2017, it received the approval of the authorized Serbian authorities for the takeover of the biggest Serbian sugar producer Sunoko. These plans were subsequently stopped due to a decline in the price of sugar.
Izvor: BIZLife, B92, Tanjug