Sao Martinho expects 5.5% growth in sugar cane crushing capacity in 2014/15

Dec 3, 2013 - Brazil's sugar and ethanol maker Sao Martinho (SAO:SMTO3) expects its sugar cane crushing capacity to reach 16.15 million tonnes in the 2014/15 crop year, which will be a 5.5% year-on-year increase, the company's executives said yesterday during a conference call with analysts.

In the ongoing 2013/14 crop, Sao Martinho will crush some 15.3 million tonnes of cane, the company's financial and investor relations manager, Felipe Vicchiato, added. Of the total, sugar production will stand at 996,000 tonnes, while the production of anhydrous and hydrous ethanol will be of 419 million tonnes and 225 million tonnes, respectively.

In the last four years, the group which operates two mills in southeastern Sao Paulo state and has stakes in other two plants, has invested nearly BRL 1 billion (USD 424.9m/EUR 313.7m). The investments target an installed crushing capacity of 17 million tonnes in 2014/15 from the 9 million tonnes capacity in 2006/07. The bulk was spent on acquisitions and expansion of existing plants, Vicchiato explained.

(BRL 1.0 = USD 0.425/EUR 0.313)

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