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Confidence Boost for Sugar Industry

29 July 2019 | In positive news for the Australian sugar industry, Mackay Sugar’s shareholders have voted to support a recapitalisation deal with the German sugar manufacturer, Nordzuker.

“We congratulate the Board of Mackay Sugar on achieving this successful outcome,” said David Pietsch, CEO of the Australian Sugar Milling Council (ASMC).

“We also welcome the commitment Nordzuker has made to the Mackay Sugar business, which provides much needed certainty to the sugar community and wider region,” he added.

“The sugar industry is a major contributor* to the economy, providing over 11% jobs and adding 17% of gross regional product directly and indirectly to the Mackay Local Government area,” added Mr Pietsch.

“Nordzuker now joins existing overseas investors including COFCO (China), Mitr Pohl (Thailand), Wilmar (Singapore) and others who see a bright future for Australian sugar” concluded Mr Pietsch.

*Contribution of Sugar Manufacturing to the Mackay Local Government Area (2017/18)