Located in Mures County, Transylvania region, the Ludus refinery produces 34,000 tons of beet sugar per year, Tereos said in a statement.
“With this investment, we now have a stronger position in one of the major European regions still importing large volumes of sugar,” said Alexis Duval, Tereos’ Chief Executive Officer.
Romania produced 650,000 tons of beet sugar in 2011, data from the national statistics institute show. Sugar imports reached around 515,000 tons last year, while exports were at some 48,000 tons.
The deal is subject to approval from local regulatory authorities.
Tereos, the world’s fourth largest sugar producer, has been majority owner in Zaharul Ludus until 2007, when it sold its 50% stake to Sucreries du Marquenterre.
Zaharul Ludus reported a net profit of 11.1 million lei (EUR2.6 million) in 2011, on total sales of RON72.5 million. (EUR1=RON4.5693)