Tate & Lyle is considering exiting its joint venture business Astaxanthin Partners.
The business produces Astaxanthin, a nutrient for farm-raised fish made by the fermentation of sugar products, but T&L said the operation was loss-making. It plans to stop production at its Selby site in North Yorkshire next month, with the loss of 45 jobs.
“The business has faced pressures due to escalating raw material prices resulting from changes in the EU sugar regime and higher energy costs,” said chief operating officer Stanley Musesengwa. “Unfortunately an increasing cost base coupled with a falling selling price means that production of Astaxanthin at the Selby site is no longer commercially viable.”
The business produces Astaxanthin, a nutrient for farm-raised fish made by the fermentation of sugar products, but T&L said the operation was loss-making. It plans to stop production at its Selby site in North Yorkshire next month, with the loss of 45 jobs.
“The business has faced pressures due to escalating raw material prices resulting from changes in the EU sugar regime and higher energy costs,” said chief operating officer Stanley Musesengwa. “Unfortunately an increasing cost base coupled with a falling selling price means that production of Astaxanthin at the Selby site is no longer commercially viable.”
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