FINANCIAL NEWS

Qatari Hassad Food eyes Brazilian sugar

26 Feb 2015

(MENAFN) Doha-based Hassad Food Company considers possible purchases of Brazilian sugar and poultry assets as structural problems in such industries in Brazil created opportunities, Reuters reported.

The world’s first sugar producer, Cane mills, located in Brazil, have been in a struggle for years with problems related to weak sugar and ethanol prices, which led some mills to enter in bankruptcy protection.

Hassad Food, after realizing the structural issues in such Brazilian industries, like high debt, the company is set to capitalize with its investments.

‘We have a lot of stuff in our pipeline and Brazil is definitely part of that, not only sugar but also poultry,’ vice president for business development at Hassad Food said in a statement.

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