Grower members of the Michigan Sugar Beet Growers, a newly formed cooperative, recently signed a letter stating their intent to buy the Michigan Sugar Company in Saginaw, MI, from the Imperial Sugar Company. In fact, the cooperative expects to close the sale by September 1, 2001.
Michigan Sugar runs four factories in the state. The cooperative intends to process the 2001 fall crop if the deadline is met. If the sale is not agreed upon by the deadline, the cooperative hopes to lease the factories for the fall crop.
The cooperative will send letters to all growers affected by the sale explaining the details of the proposed buyout.