Novi Sad, Feb. 22, 2010 (Serbia Today) – “The MK Group” owned by Miodrag Kostic, is interested in taking over management of the sugar plants in Bac, Vrbas, Pecinci, and Kovacica, all presently owned and operated by German sugar giant “Nordcuker”.
MK Group is at this time minority partner of the Nordcuker in the joint venture “Sunoko”. This unofficial statement reported by Belgrade daily Vecernje novosti, came after Nordcuker, which has been for years one of the leading producers of sugar in Europe, announced that it will sell its shares in the Serbian sugar plants.
If Nordcuker will completely pull out of the sugar business in Serbia, or keep some of the shares, it is still unknown. Reason for this move by the German company is most likely in their recent financial troubles after acquisition of the Danish sugar plant “Danisco”. In 2006, Nordcuker entered Serbian market through MK commerce, member of the MK group.
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