MK Group to forge strategic partnership with Agrana

MK Group, owned by Miodrag Kostic, has announced that it would forge a strategic partnership with Agrana, the leading regional producer of sugar in Europe, based in Austria.

MK Group has signed a preliminary strategic contract stipulating strategic partnership with Agrana which, apart from being the regional leader in sugar production, also operates under the umbrella of the biggest sugar producer in Europe – Suedzucker AG from Germany.

“In 2017, European Union will undergo radical reforms in sugar industry, namely abolishing of quotas. This will result in significant changes and only the most productive sugar producers in Europe will stand a chance. Hence, the Sunoko Company, a member of MK Group, has decided to share is future with the biggest sugar producer in Europe”, Sunoko’s press release reads.

The Commission for Protection of Competition of Serbia has approved the acquisition of Novi Sad’s Sunoko by Austria’s Agrana, which now owns several sugar factories in Serbia.  As reported by the Commission, it has been estimated that the ownership concentration will not lead to considerable changes in the structure of the sugar beet production, collection and processing and sugar production and wholesale market in Serbia.

Agrana deals in sugar wholesale in Serbia, but only in very small amounts. Sunoko has three sugar factories in Serbia – in Senta – Vrbas, Pecinci and Kovacica, and is the biggest local producer and exporter of sugar. Its annual production stands at 300,000 tons, while Agrana’s annual production in 2016/17 was 800,000 tons of sugar.

(N1, eKapija, 06.03.2017)

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