FERRUZZI DEAL WITH CPC WORTH 630 MLN DLRS The Ferruzzi Group's holding company Agricola Finanziara SpA will pay 630 mln dlrs for the European corn wet milling business of CPC International Inc under the agreement reached in principle between the two companies, a statement by Ferruzzi released by its Brussels office said. When CPC announced the agreement yesterday in New York, it said only that the price would be in excess of 600 mln dlrs. Ferruzzi said the deal is subject to agreement on several clauses of the contract and needs government authorisations. It said the deal would involve 13 starch factories employing about 5,000 people in eight European Community countries plus facilities and commercial operations in other EC states. The factories have a capacity to produce the equivalent of 1.6 mln tonnes of starch in starch and by-products a year, or about one third of EC production, from about 2.7 mln tonnes of cereals. Ferruzzi said the acquisition of these assets would extend its presence in the European agro-industrial industry both geographically and in terms of products. It said it is already the principal EC producer of sugar and of soya oil and cake, and the major cereal trader. It noted that EC output of isoglucose is subject to maximum quotas, of which CPC currently holds a 25 pct share, and said it foresaw an increase in other industrial uses of starch in the future, notably in the production of ethanol for fuel. Raul Gardini, president of the Ferruzzi Group, said the present management of the CPC milling business will be asked to remain in their posts.