Thai food giant Mitr Phol Sugar Corporation is a step closer to taking ownership of Australian sugar mill Maryborough Sugar Factory.

All directors who own shares in MSF have now sold them to Mitr Phol.  The Thai business bought 19.99 per cent of MSF shares in 2010. Mitr Phol Sugar Corporation Ltd. the producer of sugar for consumption under the brand name “Mitr Phol”, plans to aggressively capture the market with the launch of its latest value-added product “Mitr Phol Syrup” aimed at reinforcing its brand image in the market.

Produced from 100% natural sugar cane, the product responses to consumer’s lifestyle and consumption behaviors; both end consumers as well as restaurant business operators. The company plans to roll out efficient distributing channel management, product development that responds to the diverse consumer’s needs and usage including total solution marketing communications plans.

It’s been trying to acquire a majority share of the milling company over the last few months.

Mitr Phol now controls 26.9% of MSF.  Maryborough Sugar Factory owns four sugar mills in Queensland.

Source: ABC Rural