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Trade, industry & competition minister Parks Tau says his department believes embattled Tongaat Hulett can be stabilised and restructured without being placed in liquidation.
This as the sugar milling and refining company languishes under the threat of collapse amid a surge of cheap sugar imports — about 163,000 tonnes of the sweet stuff — flooding the local market.
“The department, together with other organs of state, will oppose the liquidation of Tongaat Hulett and continue to support all lawful efforts aimed at finding a viable and durable resolution,” the minister said in a statement on Friday.
On Tuesday, Tau initiated an amendment to the constitution of the South African…