Tag: baldwin

December 1, 2011 General Ag News and Notes Post a Comment

Alexander & Baldwin to split into two separate companies

Alexander & Baldwin Inc. said today its board of directors has approved a plan to split the company into two separate companies, one focusing on real estate and agriculture and the other on shipping.

The two companies would be independent and publicly traded, the company said in a news release.

Under the plan, A&B shareholders will own one share of both A&B and Matson stock for each share of company stock owned. The separation is expected to be completed in the second half of 2012.

The announcement was made after the market closed. A&B’s shares rose $1.50 to $39.56 in after hours trading.

“Over the past decade, Alexander & Baldwin’s board of directors and management have periodically conducted strategic reviews, including an evaluation of the merits of separating into two companies,” said Walter Dods, A&B’s chairman. “After thorough evaluation, we have concluded that the increased size, capabilities and financial strength of both our land and transportation businesses now enable these operations to independently execute their strategies to maximize shareholder value.”

Honolulu-based A&B has grown substantially over the past decade. Its commercial real estate portfolio has increased by almost 50 percent to its present size of 7.9 million square feet, comprising 44 properties in Hawaii and eight mainland states. The portfolio of commercial properties generates a significant and stable source of cash flow for the company, and is an important source of capital for A&B’s real estate investment and development activity.

Continue reading
September 3, 2011 General Ag News and Notes, Maui Gold Pineapple Post a Comment

Full Schedule: Grown on Maui in September

Throughout September Maui farmers, ranchers, local food producers and friends of agriculture are teaming up to celebrate local food. We do this because we believe that agriculture matters on Maui.

Grown on Maui Chef Demos at Whole Foods Market
Maui every Monday in September, 5:30-6:30 p.m.
September 6 Tylun Pang, The Fairmont Kea Lani, Maui
September 12 Garret Fujieda, The Westin Maui Resort & Spa
September 19 Caroline Schaub O’o Farm
September 26 Ryan Luckey, Pineapple Grill at Kapalua Resort

Grown on Maui Flower Demos at Whole Foods Market
Maui every Tuesday in September, 11:00 a.m. – 2:00 p.m.
September 6 Sue Cuffe, Hana Fantasy Flowers
September 12 Carver Wilson, Maui Floral
September 19 Dan Judson, Orchids of Olinda
September 26 Maui Flower Growers Association

Wednesdays From 8:30 a.m. – 10:30 a.m. the Weed & Pot Club activities at Maui Nui Botanical Gardens will focus on Hawaiian food plant propagation and maintenance.

Monday-Friday Maui Pineapple Tour presents pineapple heritage tours at the newly established Hali’imaile Pineapple Plantation.

Tour Da Food: Experience the dishes that characterize Maui cuisine, learn about the traditions and people behind the plates, soak up a sense of place with intimate excursions to Maui’s off-the touristpath culinary treasures and come away with a deeper understanding of Maui’s multicultural community and history.

Every Tuesday – Ali’i Kula Lavender is offering $1 cups of tea and 50% off guided tours.

Eat Local Challenge 2011! – Maui residents and businesses participate in the statewide initiative organized by Kanu Hawai‘i.

Continue reading
December 3, 2010 General Ag News and Notes Post a Comment

Sweet Smell of Success

The rain came down. The price went up, and Hawaiian Commercial & Sugar Co. finished the year with a much improved crop.

The final raw sugar shipment was loaded at Kahului Harbor’s Pier One on Wednesday and Thursday.

The harvest was just shy of 172,000 tons, much better than the 127,000 tons in 2009, but well short of the 200,000 tons the plantation can make in a good year.

In a telephone interview from New York on Thursday, HC&S General Manager Chris Benjamin said that although there is still “a ways to go,” the improved crop and better world prices take the immediate pressure off the plantation.

A year ago, after experiencing heavy losses attributed to a long drought, the directors of Alexander & Baldwin took a hard look at HC&S. The 37,000-acre plantation was the origin of the A&B conglomerate, but today it accounts for only about 7 percent of revenues.

The board approved continuation of the business only until the end of this year, pending improved results.

Financial results won’t be published until next year, but Benjamin said he believes that the board is already satisfied that the operation is on the right track.

At this week’s price of nearly 40 cents per pound of raw sugar (in New York), the crop would be worth more than $130 million, not counting molasses and electricity byproduct revenue, plus the premium for the part of the crop sold as specialty sugars.

Continue reading