The French sugar group UNION SDA (FF 4.5 bn turnover in 1999, with a workforce of 11,000) has created a joint-venture with the sector's leader in Brazil COSAN. The new company will be held equally by both partners, each with a 47.5% stake, the remaining 5% being in the hands of the French operator SUCRES ET DENREES. Situated in Sao Paolo, it will have an annual production capacity of 170,000 tonnes of sugar and 600,000 hectoliters of alcohol.