"Sunoko" to invest 13m EUR in four Serbian sugar plants

The representatives of company "Sunoko", which is the owner of four sugar plants in Serbia, announced that 13m EUR would be invested in those factories in 2007.

"Sunoko" was founded in June 2005. Its majority owner is German company "Nordcuker" with the share of 51%, whereas the remaining 49% are in the hands of the Novi Sad company "MK Commerce".

In 2006, "Sunoko" invested over 8m EUR in sugar plants in Bač, Kovačica, Pećinci and Vrbas, in which 210,000 tons of sugar were produced. As the representatives of the company pointed out, "Sunoko" is the biggest Serbian manufacturer and exporter of sugar. It employs 727 workers and uses about half of total of 73,000 ha planted with sugar beet in Serbia.

(Miodrag Kostić)

At the recent presentation of company "Sunoko", German Ambassador to Belgrade, Andreas Cobel, said that there still were much potential for development of economic collaboration between Germany and Serbia. He praised the progress Serbia achieved in creation of favorable conditions for business, but he pointed out that the conditions could be even better, first of all, through corruption reduction.

The member of the administration of company "Sunoko" and the owner of "MK Commerce", Miodrag Kostić, said that the plans of the company were to become the regional leader in production of sugar. German "Nordcuker" is the second biggest sugar manufacturer in Europe.