Brazil soy crusher Imcopa may sell plants at auction on December 4, judge rules

11 November 20191 min reading

A bankruptcy court in Paraná state has scheduled an auction to sell two plants belonging to Brazilian soy processor Imcopa International SA on Dec. 4, the company said. Imcopa, one of the largest non-genetically modified soy crushers in Brazil, said the sale of the plants in the towns of Araucária and Cambé was foreseen in its reorganization plan approved by creditors in 2017. In August, Imcopa unilaterally terminated a leasing contract with brewer Grupo Petrópolis for the two crushing plants as it was preparing to sell the assets, alleging a breach of contract. “With the auction of the industrial plants, the agreement maintained between Cervejaria Petrópolis and Imcopa will be terminated, as provided for in the reorganization plan,” Imcopa’s statement said. Grupo Petrópolis said it has obtained a court decision suspending the termination of the leasing contract. The company said that an eventual buyer of the plants will have to respect the current leasing contract, which runs through 2024.

Articles in News Category
13 November 20184 min reading

Stern-Wywiol Gruppe opens new production centre for food ingredients in Malaysia

Family firm from Hamburg steps up presence in the ASEAN region. New site provides more rapid delive...

10 September 20192 min reading

$200m pier and grain terminal to be constructed in Egypt

US $200m pier and grain terminal is set to be constructed in Egypt’s port city of Damietta. The new...

08 June 20182 min reading

Algeria plans to offer farming concessions to foreigners

Algeria, one of the world’s largest grain importers, working on an initiative offering foreign inve...