CORPORATE NEWS

Juhocukor invests in new sugar storage unit

Juhocukor, a sugar producer located in the southwest Slovak town of Dunajská Streda, has brought a new sugar storage unit worth 120 million Sk into operation, company officials announced. The unit, with a storage capacity of 30,000 tons, was built by the Czech company TAKO in Pardubice.

Juhocukor will carry out an investment program in which the firm will plug 250 million Sk into increasing its daily processing capacity from 4,000 to 6,000 tons of sugar beets, company executives said. In another development affecting the company, Eastern Sugar paid off the last installment (55 million Sk) of its 445 million Sk purchase of 76 percent of Juhocukor to the state privatization agency Fund for National Property (FNM). Along with Eastern Sugar, Juhocukor is owned by investment funds and small shareholders.

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