Golden Agri-Resources (GAR) announced on Oct 6 that it is incorporating a fully-owned subsidiary in Sao Paolo, Brazil.

The new subsidiary, named Golden Agri-Resources Brasil Sociedade Limitada Unipessoal (GAR Brazil), is said to help GAR enhance its sugar trading business.

According to GAR, its European sales team has identified complementary merchandising opportunities in sugar that is aligned with its existing palm oil distribution network and customer profile, which led it to acquire RCMA’s sugar business in November 2019.

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