Plus   Neg

Tate & Lyle To Acquire 85% Shareholding In Chaodee Modified Starch

Tate & Lyle Plc (TATE.L,TATYY.PK) said it signed an agreement to acquire an 85% shareholding in Chaodee Modified Starch Co. Ltd. Or CMS, a tapioca modified food starch manufacturer located in Thailand.

Tate & Lyle noted that the acquisition would enable the company to offer a broader range of tapioca-based solutions to meet customers' needs in categories including dairy, bakery, snacks, noodles and soup, sauces and dressings.

Tate & Lyle further said it would operate CMS in partnership with the former owner. Together with its partner, Tate & Lyle has planned to invest in the facility over the next three years to increase significantly capacity for higher functionality starches. The CMS facility would be supplied with substrate by a co-located tapioca starch mill fully owned and operated by Tate & Lyle's partner.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
JPMorgan Chase Bank, N.A., a unit of JPMorgan Chase & Co., has agreed to pay $250 million penalty over the bank's failure to maintain adequate internal controls and internal audit over its fiduciary business. In a filing with the U.S. Securities and Exchange Commission, the company said JPMorgan Chase Bank has entered into a resolution with the Office of the Comptroller of the Currency or OCC. Sunbeam Products, Inc. recalled about 942,760 units of Crock-Pot 6-Quart Express Crock Multi-Cookers for potential burn hazards, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. These include about 28,330 units sold in Canada. Trying to find the perfect gifts for our loved ones has always been a matter of concern. Walmart.com is set to take the pain out of customers this holiday season by adding new features and categories to the Gift Finder tool, which was introduced last year. This, the retail giant believes, will make online shopping easier for gift givers.
Follow RTT