WORLD LEADING orange juice producer, Brazilian group Sucocítrico Cutrale, has bought Silves-based Lara-Laranja do Algarve Lda.
The company is not confirming the deal but reports in the Portuguese media state the contract was signed in August, following two months of negotiations.
The deal represents the “revolution of the orange production in the Algarve region,” said Joaquim Castelão Rodrigues, head of the regional agricultural board, Direcção Regional de Agricultura.
In his opinion, this deal proves that the “Algarve’s farming sector is changing and experiencing a new momentum, the like of which has never seen”.
Isabel Soares, mayor of Silves, also quoted by the local media, has underlined the “important investment” in the council and the creation of “more jobs” as the most relevant aspects of the business.
“At a meeting we held recently at the Câmara, the investor ensured us that the residues being released by the factory at the moment will stop following the investments they have planned for the place,” Isabel Soares said.
The Silves Câmara president was referring to the alleged investment announced for the water treatment station (ETAR) at the factory that will prevent the pollution now affecting the Arade River, due to dumping from the Lara factory.
The Resident contacted Jaume Sarret, representing the former Spanish major share holder and still managing director of the Lara-Laranja do Algarve, Lda, to obtain more details regarding the deal.
However, he said he was “not authorised to release any information” for the time being.
Sucocítrico Cutrale produces around 30 per cent of the total orange juice production in the world and is owned by the Brazilian business man José Luís Cutrale and his family, who are ranked among the richest in the country.
