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CropEnergies suspends bioethanol production in UK

Reuters - UK Focus

FRANKFURT, Feb 18 (Reuters) - German bioethanol producer CropEnergies (Xetra: A0LAUP - news) is halting production at its British unit Ensus because of all-time low bioethanol prices and the strong British pound versus the euro.

CropEnergies, a unit of German sugar refiner Suedzucker , said on Wednesday it expected the temporary shutdown to lead to restructuring costs of up to 40 million euros ($46 million) for 2014/15, also impacting Suedzucker (LSE: 0G7B.L - news) 's results.

Shares (Frankfurt: DI6.F - news) of Suedzucker were indicated 2.9 percent lower and CropEnergies were indicated 10.8 percent lower ahead of the 0800 GMT market open in Frankfurt. ($1 = 0.8776 euros) (Reporting by Georgina Prodhan; Editing by Kirsti Knolle)