ARGENTINA: Emilio Luque confirms acquisition of La Concepción mill

Published: 03/20/2017, 2:05:24 PM

Argentinian retail investor Emilio Luque confirmed the acquisition of La Concepción mill from Atanor group, according to Argentina's Los Primeros news website.

The entrepreneur will now control both of the mills sold by Atanor group in Tucuman region, Marapa and La Concepción. Emilio Luque invested a total of US$90 million to acquire the mills.

Luque said that the profitability of the sugarcane sector has motivated the acquisitions.

Marapa mill has 270 employees, while El Concepción mill is the largest in Tucuman region, with 1,080 employees.