South Africa's Illovo Sugar to cut 1.2 bln in costs over 2 years
JOHANNESBURG Nov 30 (Reuters) - South Africa's Illovo Sugar aims to cut 1.2 billion rand ($83 million) from costs over the next two years as global prices for the sweetener soften, the company's managing director said on Monday.
"It's difficult times like this that give you a sense of where your cost base needs to be in order to be competitive into the future," Gavin Dalgleish told Reuters in an interview.
Africa's biggest sugar producer has cut costs of about 590 million rand ($41 million) over the last two to three years, he said.
($1 = 14.3825 rand) (Reporting by Zandi Shabalala; Editing by James Macharia)
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