ADVFN - Advanced Financial Network.
HOME» NYSE » C » CZZ Stock Price » CZZ Stock News

Cosan Limited Cl A Share News

 Cosan Limited Cl A Stock Price
CZZ Stock Price
 Cosan Limited Cl A Stock Chart
CZZ Stock Chart
 Cosan Limited Cl A Stock News
CZZ Stock News
 Cosan Limited Cl A Company Information
CZZ Company Information
 Cosan Limited Cl A Stock Trades
CZZ Stock Trades

CORRECT: Brazil Raizen Senses Opportunity In Potential Crisis

The story, "Brazil's Raizen Senses Sugary Opportunity In Potential Crisis," published at 4:09 p.m. EDT, contained a typographical error in the 10th paragraph that changed the meaning of a quote. A corrected version follows). --Sugarcane miller Raizen to expand capacity by acquisition, greenfields --Raizen sees big increases in sugarcane production in two years --Shell hopes Raizen ethanol will contribute to global fuel network By Paul Kiernan Of DOW JONES NEWSWIRES SAO PAULO (Dow Jones)--Continuing turmoil in global markets could create acquisition opportunities for Brazilian sugar and ethanol producer Raizen as it seeks to expand its sugarcane crushing by some 50% over the next five years. Raizen, a joint venture between Brazil's Cosan SA (CZZ, CSAN3.BR) and Royal Dutch Shell PLC (RDSA.LN), plans to invest up to $7 billion expanding its crushing capacity to 100 million metric tons of sugarcane per year, from 65 million tons currently. Pedro Mizutani, Raizen's executive vice president, told reporters this week that the company thinks that through renovation and expansions, it can squeeze about 5 million tons more from its 24 existing sugarcane mills. The remaining 30 million tons would be reached through a roughly 50-50 combination of greenfield projects and acquisitions. "This is not fixed," Mizutani said. "This is our plan, but of course it can change depending on the market. If you have a financial crisis now and many companies start to sell, we can buy." Mizutani said another economic or financial crisis--the possibility of which has been raised by a series of volatile swings in global financial markets in recent weeks--would be an opportunity for Raizen. "We have a very strong cash position--two big shareholders." Though its impact on Brazil was softer than for most big economies, the 2008-09 recession deeply affected the sugarcane industry. Highly fragmented among several hundred, mostly family-owned mills, the industry underwent a wave of consolidation as financing dried up and small-time owners sold out to bigger foreign and domestic players. A pause in routine investments to renew canefields was perhaps the leading factor behind a weak harvest this year. Cosan emerged as the largest cane producer. Its mills, now listed as Raizen, crush nearly 10% of the sugarcane in Brazil. With sugarcane production stalling across Brazil's main center-south growing region, Cosan this week slightly trimmed its estimate for Raizen's 2011-12 cane crush to between 53 million and 56 million tons. Given the growing gap between milling capacity and actual output, Chief Executive Vasco Dias said the company has "increased significantly" its capital expenditures to renew cane plantations. It will take some time for the company to reap benefits from the investments. Sugarcane, a type of grass, takes about 18 months after initial planting to be ready for harvest. After that, a plantation can be cut like a lawn once a year for five to six years before productivity falls sharply, necessitating another planting. "So I'm expecting, not necessarily in the 2012-13 harvest, but in two years' time, a substantial increase in our production," Dias said. A growing shortage of ethanol in Brazil's fuel market, combined with U.S. import tariffs and blending subsidies for its own corn-based ethanol, mean the domestic market will remain Raizen's main revenue source for at least a few more years. But Mark Williams, Royal Dutch Shell's director of downstream, said in a video call from London that the energy giant is holding out hope that its stake in Brazilian ethanol could play a bigger role. "As a global fuels supplier, we have access to global supply chains, and sooner or later, Brazilian sugarcane ethanol may become important in that," Williams said. "If the trade barriers were to fall, and the market were more open, we would definitely see the opportunity to export sugarcane ethanol in greater and greater quantities." -By Paul Kiernan, Dow Jones Newswires; (+55)11-3544-7074, paul.kiernan@dowjones.com

Stock News for Cosan Limited Cl A (CZZ)
DateTimeHeadline
11/15/201309:01:33HBK Investments LP 3Q 13F: Holdings As Of Sep 30
11/15/201309:01:33HBK Investments LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201308:55:37Highbridge Capital Management 3Q 13F: Largest Eliminations
11/15/201308:55:35Highbridge Capital Management 3Q 13F: Largest Purchases
11/15/201308:55:35Highbridge Capital Management 3Q 13F: Largest Sales
11/15/201308:55:35Highbridge Capital Management 3Q 13F: Largest -2-
12/06/201206:05:12Brazil's Cade Approves Raizen Creation
11/06/201203:26:34BG Group Completes $1.7 Billion Comgas Stake Sale
10/31/201216:22:15Brazil's Comgas Sees Industrial Volumes Up in 2013 After Fall...
09/26/201219:28:19Brazil's Raizen Sees Record Sugarcane Crop In 2013 - Executive
05/29/201207:36:14Brazil's Cosan, Camil To Merger Food Operations
05/29/201202:47:08BG Group Sells Entire 60.1% Stake In Comgas For $1.7 Billion
05/09/201216:22:21Brazil's Cosan Shares Rise On Planned Debt Sale
05/03/201202:47:55BG MOU With Cosan For Sale Of Its 60.1% Holding In Comgas For...
04/12/201210:04:54Brazil's Cosan In Talks With BG For Comgas Controlling Stake
04/12/201209:44:24BG Group Confirms Talks With Cosan Over Comgas Interest
03/21/201210:28:51Subpar Rainy Season Threatens Brazil's Sugarcane Crop
03/01/201207:40:13Brazil's Cosan To Acquire Comma From Exxon Mobil
02/22/201216:04:03SOFTS HIGHLIGHTS: Top Stories Of The Day
02/01/201209:07:48Brazil's Cosan May Delist Holding Company Shares From NYSE -Report

Cosan Limited Cl A and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad