CANEGROWERS Chairman Paul Schembri says the news that an investor is looking to secure the future of Mackay Sugar is encouraging to the company’s 800 sugarcane growing suppliers.
Mr Schembri sends cane to one of the company’s three sugar mills and says the past few years in which Mackay Sugar has struggled financially have been enormously stressful.
“This investment proposal presents an opportunity for Mackay Sugar to stabilise its business and ensure a financially sustainable and secure future for the region,” he said.
The non-binding indicative proposal has come from Nordzucker AG, one of Europe’s largest sugar businesses producing 2.7 million tonnes of sugar each year.
“We welcome the interest of such a highly reputable and world class company in our industry and our region,” Mr Schembri said.
“Growers have been to hell and back in the past few years, worried about the future of the company because without a viable mill there can be no Mackay sugar farming community.
“Morale has been low as we’ve battled problems with milling performance and storm clouds over the company’s viability.
“There is now light at the end of the tunnel, reminding us that we are an industry worth investing in and building.”
At this point in time the full detail of the proposal is not known and discussions will continue between Mackay Sugar and the potential investor, Nordzucker AG, before a final proposal is put to grower shareholders.
CANEGROWERS welcomes the commitment from Mackay Sugar that it will be conducting grower information sessions over the coming months.
“The ball will soon be in our court as we, as growers, are asked to vote to determine our future.
“I urge everyone to consider the proposal carefully and vote when called upon. We, as growers, have a unique opportunity to determine our own destiny and secure our future.”