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Ethanol Giants Struggle To Crack Brazil Market
By Mr Ethanol | September 11, 2007
Wall Street Journal:
Nowadays, plenty of investors want to talk to Cícero Junqueira Franco. Together with two sons and numerous cousins, he controls a great deal of something the world wants: ethanol.
Mr. Junqueira Franco, a founder of Companhia Açucareira Vale do Rosário, a steam-belching mill that crunches sugar cane into sugar and ethanol, has received offers from several suitors. These include a $775 million bid for his company from New York-based commodities giant Bunge Ltd. But Mr. Junqueira Franco, whose family arrived in Brazil in the 1700s and still owns prime tracts of sugar-cane land in São Paulo state, says he’ll never sell.
“Why would I?” asks the 75-year-old Mr. Junqueira Franco, his shirt partly untucked and face flushed after a big lunch with his family.
Thanks to high oil prices and worries over global warming, multinational companies are straining to find ways into Brazil’s booming market for biofuels - renewable fuels made from crops such as corn and sugar cane. The U.S…. read on.
Topics: Brazil, Ethanol, Market, News |
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