uMhlanga, KwaZulu-Natal (eThekwini Metropolitan Municipality), South Africa
Area served
South Africa, Africa
Key people
Gavin Dalgleish
(Group Managing Director)
Products
Sugar Sugar marketing
Website
www.illovosugarafrica.com
Illovo Sugar Africa (Pty) Ltd based in uMhlanga, KwaZulu-Natal, South Africa, is Africa's largest sugar producer. The group produces raw and refined sugar for local, regional African, European Union (EU), United States and world markets from sugar cane supplied by its own agricultural operations and independent growers who supply cane to Illovo's factories.
Until the 1960s, Illovo was a subsidiary of the General Mining Company of South Africa, which sold a 49% shareholding in the business to Tate & Lyle in 1969.[1] This was then sold in 1977 to C G Smith (Sugars) Ltd of Natal.[2] Today it is a subsidiary of Associated British Foods Plc., which purchased 51% of the issued share capital for more than £400m in 2006.[3] In 2016, ABF bought the remaining 49% of the share capital.[4][5]
Illovo employs more than 12,000 permanent staff and 18,000 more on a temporary basis.[citation needed] Illovo Sugar's subsidiary Zambia Sugar is listed on the Lusaka Stock Exchange, under the symbol ZSUG.[6] In addition, its Malawian subsidiary Illovo Sugar Malawi is listed on the Malawi Stock Exchange, under the symbol ILLOVO.[7]
^Antony Hugill, Sugar and All That: A History of Tate & Lyle (London: Gentry Books, 1978), p.308.
^Lyle, John O. (25 January 1978), "Chairman's statement", Tate & Lyle: Preliminary announcement of profits for year ended 30 September 1977.
^Baker, Martin (10 December 2006). "The Rainmaker: 21st-century Gordon Gekko". The Daily Telegraph. Retrieved 6 August 2016.
^Phillips, Lloyd (14 April 2016). "ABF offers to buy out the rest of Illovo Sugar". Farmer's Weekly. Retrieved 2017-06-27.
^"Illovo Sugar Limited". Full Disclosure 2016. Retrieved 2017-06-27.
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