| Western Sugar growers in Montana and Wyoming held meetings
during the last two weeks to discuss the possibility of purchasing Western
Sugar Company from Tate and Lyle of London, England. According to Randon
Wilson, the attorney representing the Rocky Mountain Sugar Beet Growers
Cooperative, response was excellent at the grower meetings held in Hardin
and Billings, Montana and Powell, Wyoming. "Virtually every grower in
those areas showed up for a meeting," said Wilson. "Judging from
their questions and participation, this is obviously important to
them."
At the Wyoming meeting last week, Wilson said 200 growers were in
attendance. He estimated 360 growers attended the four Montana meetings.
"I think that is about all the growers there."
The grower cooperative has the opportunity to purchase the company for
$78 million. Growers were asked to finance one-third of the cost, which
amounts to $185 per acre, while the cooperative will obtain financing for
the other two-thirds.
Wilson told growers they will need to make a down payment of $35 per
acre by the end of January. The balance of $150 per acre is due by the end
of February.
"We are starting to get subscriptions now," Wilson said.
"I think that is a really good sign considering they have until the
end of January to make the down payment."
Grower meetings will be held in Colorado on Jan. 3-5 and in Nebraska on
Jan. 9-10. Wilson will also be on hand during the Annual Sugar Beet Expo
at the Scotts Bluff County Events Center in Mitchell on Jan. 11-12 to
answer questions regarding the purchase. |