The purchase of the aspartame factory in Gravelines, northern France means that no jobs will be lost, the company said.
A trust fund has also been set up to ensure security for the factory employees amid initial fears from trade unions about job cuts. The Gravelines factory has been producing aspartame since 1993 and was a 100% subsidiary of Ajinomoto since 2000.
The Share Purchase Agreement was signed yesterday and will transfer 100% of the shares from Ajinomoto to HYET Holding on the 1st October this year.
HYET CEO, Ad Timmermans said: “We are delighted to be able to preserve the Gravelines site and secure a future for all employees. The purchase of ASE will take our company to an exciting new phase. With the extensive market experience of HYET Sweet and the expertise in manufacturing of the Gravelines site, we are confident we will strengthen our position in the global sweeteners market.”
HYET Holding is a sister company of HYET Sweet which is headquartered in Breda, the Netherlands.
Founded in 2009, HYET Sweet supplies a range of sweeteners which include aspartame, sucralose, acesulfame-k and stevia in over 35 countries.