1. Greencore Group Plc, the world's biggest maker of prepared sandwiches, has withdrawn from the sugar industry in 2006 after 80 years as the European Union cut back subsidies.
2. It now gets four- fifths of operating profit from convenience foods after moving into the industry to tap demand from time-pressed shoppers.
3. It may build a 500 million-euro commercial and residential development on the site of its last sugar plant, in the southern Irish town of Mallow, which it shut in 2006. It wants to convert the property into 1,000 homes, offices, a hotel and golf course.
4. It also has applied to build a 1.1 billion-euro business and residential development on the site of another former sugar plant near the Irish town of Carlow. Developers are seeking land as property prices surge in Ireland, whose economy is the fastest-growing in the euro area.
Sometimes the greatest value of a sunset industry is in its real estate.
[Click here for full story at: BLOOMBERG.COM]
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