Yesterday said it has entered into agreements
to supply high fructose corn syrup to leading food and beverage manufacturers in
China, confirming earlier market speculations. Luzhou shares rose as much as 5.1
per cent to 82.5 cents yesterday after DBS Vickers Securities said in a research
note that the maker of corn sweeteners had won a contract to supply corn
sweetener to a leading carbonated drinks producer in Shanghai. The shares
eventually closed at 81 cents, up 2.5 cents. After the market closed, Luzhou
confirmed the DBS Vickers report that the company plans to supply the high
fructose corn syrup through its plants in Liaoning, Shandong, Henan and Shaanxi.
It also said it has completed enhancements to the production capabilities at its
Shaanxi and Henan plants to produce high fructose corn syrup and high maltose
syrup.
