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Tate & Lyle alters European joint venture, Splenda business

Reuters - UK Focus

LONDON, April 21 (Reuters) - Tate & Lyle (LSE: TATE.L - news) on Tuesday said it would exit most of its European bulk ingredients business and restructure its struggling Splenda sucralose business, in a bid to focus on and strengthen its specialty food ingredients business.

Regarding a European corn wet-milling joint venture the company has with Archer Daniels Midland, Tate said it would exit the bulk ingredients plants in Bulgaria, Turkey and Hungary and take full ownership of a more specialty-focused plant in Slovakia.

It also said it would consolidate production of all its Splenda sucralose at a facility in Alabama and close a Singapore facility in the spring of 2016. (Reporting by Martinne Geller; Editing by David Holmes)