Growing the Bioeconomy since 2001

+27 87 353 9800
Get in touch
a
News
31.08.2011
Proserpine Sugar Future Uncertain
Members of the Proserpine Sugar Mill have voted to reject a $115 million bid to save the ailing north Queensland miller.
Sucrogen, owned by Singapore-based Wilmar International, made their offer some weeks ago, but last week Tully Sugar, a subsidiary of Chinese state-owned COFCO, surprised industry and growers by making a rival bid.
The Board […]
DSC04077_sepia

Proserpine Sugar Mill

Members of the Proserpine Sugar Mill have voted to reject a $115 million bid to save the ailing north Queensland miller.

Sucrogen, owned by Singapore-based Wilmar International, made their offer some weeks ago, but last week Tully Sugar, a subsidiary of Chinese state-owned COFCO, surprised industry and growers by making a rival bid.

The Board of Proserpine did not accept the COFCO offer. Sucrogen needed 75 per cent of votes cast by cooperative’s 214 members to approve their offer, but failed by a mere 11 votes.

Proserpine acting chief executive, Ian McBean, says the mill now faces significant uncertainty  … More (ABC.net.au)

Choose a Topic

Join Our Newsletter

Articles and Pieces of Information

Subscribe for More

Get NEW Articles as and when we publish them

Read More

Latest Articles

Our site has moved to a new platform. It is functional, but expect the odd 'hiccup' (e.g. there are over 300 links and references that we are busy editing). Please continue to use it and/or submit your details and we'll notify you once all is 100% up and running.

Click here to access our old site.

We have received your request. Thank you.