International commodity trading company Louis Dreyfus is buying an addition four sugar ethanol mills in Brazil to become the second-biggest sugarcane processor in the country.
According to a Bloomberg.com report, Paris-based Louis Dreyfus, which already owns four sugar and ethanol mills in Brazil, expects the acquisition to boost sugarcane processing to 18.5 million metric tons by 2009, from 11.8 million tons this year, the company said in a statement. Financial terms of the acquisition weren’t disclosed.