Wilmar Forms Myanmar Sugar Venture to Expand Push Into Sweetener
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Wilmar International Ltd., the largest sugar cane miller in Australia, agreed to form a Myanmar venture with a local partner as it builds on a four-year push into sugar production in Asia.
The Singapore-based company will hold 55 percent in the venture with Great Wall Food Stuff Industry Co. after buying all of the local company’s sugar-manufacturing capacity, Wilmar said today in a statement. Wilmar will use its own funds for the investment and the venture will not have a “material impact” on this year’s earnings per share, the company said.