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India's Renuka fires 900 at Brazil sugar mills, say sources
October 17, 2017 / 4:31 PM / 2 months ago

India's Renuka fires 900 at Brazil sugar mills, say sources

RIBEIRAO PRETO, Oct 17 (Reuters) - Renuka do Brasil, a subsidiary of India’s sugar maker Shree Renuka Sugars Ltd, has fired around 900 people from its two cane mills in Brazil and returned to owners most of the land it used to lease to plant cane, three sources close to the situation told Reuters on Tuesday.

The sources, who asked to not be named because they are not authorized to discuss the issue, said the company is struggling to keep operations after a failed attempt to auction off one of its mills in September. Renuka do Brasil, which filed for bankruptcy protection in 2015, declined to comment. (Reporting by José Roberto Gomes; Writing by Marcelo Teixeira)

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