Raízen, the largest global producer of sugar and ethanol from cane, has the capacity to expand its production, but is attentive to opportunities that arise in the market for acquisitions and mergers, said the company’s CEO, Ricardo Mussa, when asked during a conference quarterly results.
“Of course, we still have a lot of idle capacity within Raízen, it is not something that we are looking for as a great priority…, but we are always attentive to opportunities that can bring synergies…”, said Ricardo Mussa, when answering an analyst question about M&A movements .
The analyst did not mention a specific acquisition opportunity for Raízen, but this week news emerged about the company’s interest in acquiring BP Bunge Bioenergia, the third largest sugarcane processor in the world.
Raízen did not comment on the matter. On the issue of M&As, Mussa said that “this is all he can share”.
The expansion opportunities analyzed also consider the possibility of increasing the supply of biomass, “for our E2G (second generation ethanol) operation, which is growing rapidly”, said the executive.
He added that the company will carefully look at market options for mergers and acquisitions.
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
