MK Commerce announces strategic partnership with probably the biggest European sugar industry, partner to get majority ownership

In Autumn 2005, four Vojvodina-based sugar refineries will start the campaign for processing of this-year crop of sugar beet as part of one big European company. President of "MK Commerce", Miodrag Kostić, who owns factories in Vrbas, Bač, Pećinci and Kovačica, claims that he chose the biggest, or at least one of the 2 biggest sugar manufacturers in Europe. He still cannot tell the name of the partner, but he points out that it is genuine European company.

In 2004, four sugar refineries produced 183,000 tons of sugar. Taking into consideration that €13.6m has been invested in procurement of equipment, the ambitions of the owner of "MK Commerce" doesn't look like they are groundless. Although, in the future arrangement, foreign partner would have majority share, Miodrag Kostić seems like he does not have anything against it.