Eridania Béghin-Say finalises split

After the merger of Béghin-Say with the sugar and agro-industrial activities of Eridania in 1992, the Eridania Béghin-Say group, a leader in the agro-industrial industry, will be divided into four new companies, each one holding a key position in its area of activity, at the end of June, after approval by shareholders. The four new entities are: * Béghin-Say, No 2 producer of sugar and derivatives in Europe and the world; * Cereol, which brings together the group's oilseed activities, edible oils, proteins, and lecithins. Cereol is a leader in bottled seed oils and olive oils, as well as in specialty products; * Cerestar, Europe's number one producer of starches and derivatives and a leader in the world market; * Provimi, a leader in animal nutrition in Europe and the United States. The stock split will give shareholders the advantage of a direct investment in homogenous activities and a better understanding of the potential growth in each sector. For each share of Eridania Béghin-Say, shareholders will receive four shares, one from each of the new companies. The shares of the four new companies will be quoted on the Paris-Euronext stock exchange on Monday, July 2nd. The split will give more latitude to Béghin-Say, Cereol, Cerestar and Provimi to finance their activities and growth. This decision establishes four independent industrial groups and consolidates their independence within their own particular markets. During the past few years, the group has reinforced its strengths by reaching a critical mass in terms of capitalisation and industrial structure, which enabled the group to gain positions of leadership in all its different sectors; and by enhancing its activities, and geographic redeployment, which reduced market and country-based risks. These choices have proven their effectiveness. The sugar division has made major acquisitions in France and integrated their activities into a new organization. The starches division has launched a major industrial redeployment plan, with product specialization and cost reductions. The oilseed division has seized the growing opportunity in emerging countries and established itself industrially in central and Eastern Europe while gaining access to new markets for branded products with high added value. The animal nutrition division, thanks to a strategy based on external and organic growth, has expanded and diversified its production and doubled sales in five years. Source: Eridania Béghin Say

Eridania Béghin-Say finalises split

After the merger of Béghin-Say with the sugar and agro-industrial activities of Eridania in 1992, the Eridania Béghin-Say group, a leader in the agro-industrial...

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