La Cabana to open sugar refinery in mid-2008

Ingenio La Cabana of Colombia is to open a new sugar-refining plant in June for operations in the second half of 2008; it also plans to buy back 4.1% of its own shares from groups such as Grupo Corficolombiana and Leasing Bolivar (the founding family owns 95.9%).

In recent days, Duff & Phelps de Colombia reaffirmed its Triple A rating of La Cabana, pleased to see the firm entering the refining segment of the sugar trade, the area which offers the best business margins. Ingenio La Cabana owns 70% of the 19,143 ha it uses for sugar-cane cultivation, the best percentage of any firm in the national sector. Also this year, the firm will launch a new corporate image.

Publication: SABI - Business News
Provider: South American Business Information
Date: January 8, 2008

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