Illovo looking to reduce sugar exposure through diversification into ethanol

In South Africa, under the guidance of the company’s new CEO, Illovo is at last looking to expand its ethanol production beyond its distillery in Tanzania with production possibly popping up in South Africa, Swaziland and Zambia. The move is part of the company’s attempt to diversify away from sugar that is weighing on group profits as a result of low global prices. Cogeneration is also on the record as a major investment opportunity across most of its regions.