Carbohydrate ingredients company Tate & Lyle on Wednesday announced that despite expressions of interest from a number of parties and several weeks of detailed negotiations, it has not managed to sell its molasses and storage business.
In February this year the company decided to pursue a sale of its molasses and storage businesses comprising United Molasses (UK and overseas including UM Feeds Marketing), UM North America (PM Ag and UM Canada) and United Storage. PricewaterhouseCoopers Corporate Finance were appointed to market the businesses on Tate & Lyle's behalf.
According to a statement this week United Molasses continues to trade profitably and management will examine other opportunities to maximise returns from the business which may include partial disposals, together with the retention of some elements of the business.
On a lighter note Tate & Lyle also said this week that it has launched a new website for its starch and starch derivative company Amylum.