EANS-Adhoc AGRANA Beteiligungs-AG / AGRANA plans to concentrate sugar beet processing in Austria at its Tulln site after the 2020 campaign

Nachrichtenagentur: news aktuell
25.08.2020, 19:00  |  131   |   |   
Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is responsible for the content of this announcement.

Restructuring & Recapitalisation

Vienna - - Current sugar beet growing area necessitates streamlining sugar
production in Austria
- Leopoldsdorf site can only be maintained if assurances are received by the
middle of November 2020 of a cultivation area in Austria covering at least
38,000 hectares

At its meeting today, the supervisory board of AGRANA Beteiligungs-AG approved
the closure of the sugar beet factory at the Leopoldsdorf site in Austria
following the completion of the beet processing campaign in December 2020.
Despite the recent doubts about campaign-based operations in 2020 at both Lower
Austrian sites due to the limited cultivation area, this makes commercial sense
due to the favourable vegetation conditions and the extraordinarily high yields
of sugar beet expected as a result. Due to the existing cultivation area
however, this won't be possible in future, which is why the decision has been
taken to concentrate on just one site. If assurances are not received by the
middle of November 2020 of a cultivation area of at least 38,000 hectares, the
closure of the Leopoldsdorf site will be unavoidable after the end of the 2020

From today's perspective, the restructuring costs associated with the permanent
closure would amount to up to EUR 35 million, of which up to EUR 15 million
would be recognised in cash flows.

This release is available in German and English at www.agrana.com [https://

Further inquiry note:
AGRANA Beteiligungs-AG

Mr. Hannes Haider
Investor Relations
Phone: +43-1-211 37-12905
E-mail: hannes.haider@agrana.com

Mr. Markus Simak
Public Relations
Phone: +43-1-211 37-12084
E-mail: markus.simak@agrana.com

end of announcement euro adhoc

issuer: AGRANA Beteiligungs-AG
F.-W.-Raiffeisen-Platz 1
A-1020 Wien
phone: +43-1-21137-0
FAX: +43-1-21137-12926
mail: info.ab@agrana.com
WWW: www.agrana.com
indexes: WBI
stockmarkets: Berlin, Frankfurt, Wien, Stuttgart
language: English

Additional content: http://presseportal.de/pm/63352/4688923
OTS: AGRANA Beteiligungs-AG
ISIN: AT0000603709
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