Completion of Sale of Tate & Lyle Group's Animal Feed and Bulk Storage Operations in USA and Canada.Business Editors LONDON--(BUSINESS WIRE)--March 24, 2003 Tate & Lyle PLC ("Tate & Lyle"), a world leader in carbohydrate ingredients, announces that the sale of United Molasses Company, a Delaware Corporation, ("UMUS") and the business and assets of UM Canada ("UMC UMC United Methodist Church UMC United Microelectronics Corporation UMC University Medical Center UMC United Microelectronics Corp (Republic of China) UMC University of Missouri-Columbia ") to Westway Holdings Corporation has now been completed. The signing of conditional agreements for these disposals was previously announced on December 20, 2002. The initial consideration for UMC (which is subject to closing adjustments) of CAD$27 million plus US$1 million (GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 13 million) has been received in cash bringing total cash proceeds to some GBP21 million and, in addition, more than GBP8 million has so far been collected from retained receivables. About Tate & Lyle Tate & Lyle is a world leader in carbohydrate ingredients. Our core competence is to take basic carbohydrates - corn, wheat or sugar - and add value to these raw materials through technology. As a result of continuous innovation we offer an ever-wider product portfolio of versatile and functional ingredients. These products include Cereal Sweeteners, Starches, Sugars and Citric Acid. Our products have wide applications in the food, beverage, pharmaceutical, cosmetic, paper, packaging and building industries. With headquarters in London, the Group has 8,500 employees and 50 plants in 24 countries. Sales in the 53 weeks to March 31, 2002 totaled GBP3.9 billion. Tate & Lyle ordinary shares trade on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. under TATE.L. In the US, ADRs trade on the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under TATYY (each ADR ADR - Astra Digital Radio is equal to four ordinary shares). Additional information can be found at the website www.tateandlyle.com. |
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