Rocky Mountain Sugar Growers Cooperative announced today that a preliminary tally of subscriptions indicates there is enough support to proceed with the grower buyout of Western Sugar Company.
The Board of Directors noted that although subscriptions were a little light in both Colorado and Nebraska that the deadline to subscribe in those states will be extended to Feb. 16.
This will give those still interested in those states the opportunity to make a down payment of $50 an acre in order to qualify for financing of $150 per acre.
Anyone desiring to subscribe who has not received a subscription agreement should contact a member of the Board or the Salt Lake City office at (801) 534-7283.
Response in Wyoming and Montana was as expected, according to the Board. No additional acreage will be required there.
A group of businessmen in Nebraska has proposed to fund a pool of acres for growers who cannot afford to acquire the acres now but wish to grow sugarbeets. Those interested in that program should also contact a member of the Board or the Salt Lake City office.
Rick Dorn, chairman of the Board, stated, "We are delighted with the response of the growers throughout the system. We are confident reluctant growers will come forward now that the buyout is assured."