On the Street: Tate & Lyle Suspends Plant

On the Street: Tate & Lyle Suspends Plant

May 28/Glasgow, Scotland/The Herald -- Sugar refiner Tate & Lyle said it will not restart construction of an ethanol plant in Fort Dodge, Iowa, in the foreseeable future. Tate & Lyle said it had written off a loss of £217 million on the project this year and another £25 million next year. Work on the plant was suspended in March 2009. Tate & Lyle announced the decision as it reported that net profit for the year ending March 31 fell to £15 million, compared with £65 million in the previous year.

From the June 7, 2010, Prepared Foods E-dition

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