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Mannheim, 23.11.2001

SÜDZUCKER acquires REMY INDUSTRIES

SÜDZUCKER, through its Belgian subsidiary ORAFTI, announced today the acquisition of REMY INDUSTRIES, the Belgium-based producer of food ingredients made from rice. The acquisition is the result of ORAFTI's search for alliances with and acquisitions of companies in the field of specialty food ingredients. The REMY product portfolio contains many unique and exclusive products, which will complement ORAFTI's own range of ingredients. The acquisition will strengthen the market position of both companies.

Mannheim, 23.11.2001

SÜDZUCKER acquires REMY INDUSTRIES

SÜDZUCKER, through its Belgian subsidiary ORAFTI, announced today the acquisition of REMY INDUSTRIES, the Belgium-based producer of food ingredients made from rice. The acquisition is the result of ORAFTI's search for alliances with and acquisitions of companies in the field of specialty food ingredients. The REMY product portfolio contains many unique and exclusive products, which will complement ORAFTI's own range of ingredients. The acquisition will strengthen the market position of both companies.
The ORAFTI Group, a subsidiary of Raffinerie Tirlemontoise/Tiense Suikerraffinaderij in Belgium, part of the Südzucker Group, is a leading producer of food ingredients including Raftiline®, Raftilose®, and Raftisweet® from chicory. It has developed a strong position in the market for functional food ingredients and liquid sweeteners. The acquisition of REMY is in line with Südzucker's strategy of building its portfolio of speciality food ingredients.
REMY was founded in 1855 and is a leading producer of rice starches, rice flours and rice proteins. It has customers all over the world in the food, pharmaceutical and non-food industries, REMY also has an adhesive activity. The company has recently totally renewed its production unit, located in Wijgmaal, Belgium. REMY's present owner, RÜTGERS ORGANICS GmbH bought the company in 1988 and has invested heavily in REMY's expansion since then. RÜTGERS A.G., the parent company of RÜTGERS ORGANICS GmbH, recently decided to streamline its development strategy to focus on its core business (chemicals and plastics). A consequence of this strategy has been the divestment of the food-based REMY INDUSTRIES.
As is the case with ORAFTI's products, REMY's food ingredients are extracted from a natural source, and have a high nutritional and technological value. Rice-based products have a healthy image and are specifically used in foods with demanding nutritional requirements such as baby foods, breakfast cereals and dairy products.
Dr. Georges Smits, CEO of ORAFTI, adds, "These ingredients have exceptional value as texturising agents, with performances that are unequalled. The REMY products and market approach are also to a large extent comparable to ORAFTI's. We have a similar customer base and customer service philosophy and our corporate cultures are a perfect fit. We are convinced that the interaction between ORAFTI and REMY will lead to growth for both companies. The acquisition will offer new opportunities to our customers through the synergies in texturizers and functional ingredients that we will now offer."
Both REMY and ORAFTI are high-growth companies. Dr. Karl Hermes, CEO of RÜTGERS ORGANICS, confirms: "We have invested heavily in new technology and product development at REMY resulting in strong growth. But we have also realized that, to allow REMY to develop its full potential, it needed a parent company with strong capabilities in the food industry. The choice of ORAFTI, one of the leading companies in the production of value added food ingredients, was a logical one. It is a choice that guarantees the continuing growth of REMY in the future".
The acquisition will be submitted to the relevant authorities for approval.
For more information:
www.orafti.com
Dr. Georges Smits
Aandorenstraat, 1
B-3300 Tienen
Belgium
Tel. 00 32 16 80 12 28
For press information:
Isabel Lightfoot
Fallon Currie Consulting
Tel. + 44 20 7630 6070
isabel.lightfoot@fallon-currie.com