NICARAGUA BUSINESS NEWS — The Colombian sugar company Mayagüez has acquired a 60% stake in Casur Sugar Holdings, in the department of Rivas
Casur has 1,900 employees, and can grind 645.185 tonnes of cane, producing 1.2 million sacks of sugar a year, with sales of more than $38.3 million.
Elnuevodiario.com.ni reports that the Colombian company “… Mayagüez has a 14% stake in the sugar market in Colombia, and with this purchase plans to expand its potential in the energy market “by producing ethanol from sugar cane.”
Mario Amador, executive director of the National Committee of Sugar Producers (CNPA) statde that “… projects that need this mill to improve production capacity easily range between $80 million and $100 million … I see it as positive this injection of fresh capital into this mill, even for the other mills, because they will see the technology and experience of this Colombian company. ”