Frustrated by govt’s apathy towards their demands of an engineering college, the farmers of Burhanpur, pooled money for 10 years & finally have an engineering college of their own.
BHOPAL: Frustrated by government’s apathy towards their demands of an engineering college, the farmers of Burhanpur, a small district adjoining Maharashtra, refused to give up: they pooled money for 10 years and finally have an engineering college of their own. This Independence Day, aspiring engineering students of Burhnapur and nearby areas will no more have to trudge to distant places; they will get their own institute.
“Our children have the right to dream of becoming engineers,” said Virendra Kumar Singh, farmer and one of the directors of the Naval Singh Cooperative Sugar Mill Ltd. “We approached leaders of political parties to help realize our dream. But even our MPs and MLAs set-up their private engineering colleges in Indore and Khandwa and other places,” Singh said.
In the year 2000, the thousands of sugar farmers of the cooperative gave up on pleading with their political masters. They decided to donate just Re 1 per quintal of sugarcane and build the college which would give an engineering degree to their children.
DISTRIBUTOR and marketer Queensland Sugar has decided to sell its 19.9 per cent stake in Tully Sugar to takeover contender Mackay Sugar for $43 a share, sparking a fresh bidding war from two other interested parties, US giant Bunge and China’s state-owned Cofco.
The news came as Cofco announced the Foreign Investment Review Board had approved its deal to buy a 19.9 per cent stake in Tully and its decision to increase the holding.
On Friday, Mackay upgraded its offer for Tully by $2 to $43 a share (the same price offered by Bunge and Cofco), valuing Tully at $132.9 million.
The combined Queensland Sugar/Mackay holding in Tully now totals almost 30 per cent.
Cofco has a precommitment for a 19.9 per cent stake and Bunge has a small stake.
Mackay’s bid is backed by French-based commodity trader Louis Dreyfus, which has agreed to provide debt funding of up to $102m.
Tully is one of the last independent, grower-owned sugar mills in Australia and also owns residential properties in far north Queensland and other assets.
Mackay is the country’s second-biggest sugar milling company, owning three mills and a refinery in Queensland.
MACKAY Sugar has formally lodged its $41 a share bid for Tully Sugar, even though US-based agribusiness giant Bunge and China’s state-owned Cofco have already revised their bids higher to $43 a share valuing Tully at $132.9 million.
Mackay’s bid is backed by French-based commodity trader Louis Dreyfus, which has agreed to provide debt funding of up to $102 million to help fund the offer.
Mackay is Australia’s second largest sugar milling company, operating three mills, a refinery, and producing molasses and electricity on the Queensland central coast south of Tully.
At stake is the ownership of one of the last independent grower-owned sugar mills in Australia and other assets including residential properties in the Far North Queensland town.
The Tully mill, whose operation is highly regarded in the industry, has a crushing capacity of 2.5 million tonnes of cane a year and produced 315,000 tonnes of raw sugar in 2002, before production started falling as a result of a series of poor crop seasons.
“By accepting Mackay Sugar’s offer, you are ensuring Tully Sugar’s business remains in Australian hands, managed by a professional grower-controlled company” that has a proven track record of working with growers to deliver higher prices and a more secure and diversified business while investing in the industry,
On Saturday, April 23, 2011 from 8:30 am – 5 pm, Island X Hawaii / Old Sugar Mill Brand Coffee & Chocolate will host a celebration of North Shore grown coffee, cacao, produce, food, art, film, music, and surf industry manufacturing at an open house exhibition in the Old Sugar Mill, Waialua.
The North Shore town of Waialua was once a bustling sugar mill town producing what locals said was the “World’s Best Sugar” but in 1996 the Waialua Sugar Mill stopped production and closed its gates after over a 100 years of operation. In recent years, however, there has been a quiet resurgence of shops, businesses, and local product manufacturing that has helped transform the Old Waialua Sugar Mill into one of Oahu’s newest visitor destinations. The mill is also the processing site of Waialua Coffee and Cacao / Dole. Free mini tours of the coffee and chocolate mill as well as free Waialua Coffee samples are offered daily at Island X Hawaii. Come join us on Saturday, April 23rd, for a gathering of local art, food, music, and community groups and to celebrate the rebirth of the Old Historic Waialua Sugar Mill town.
A judge has ruled in favor of a lender in a foreclosure suit on a former Pacific Northwest logger who attempted to turn the former Haina sugar mill in Honokaa into a sawmill.
Hilo Circuit Judge Glenn Hara entered judgment Dec. 8 against Haina Properties LLC and Robert J. Marr, known as “Barefoot Bob.” The ruling clears the way for a liquidation sale of the mill property.
Haina Mill Mortgage Lender LLC, a Delaware limited liability -company, filed the foreclosure suit in June 2009, claiming that Haina Properties and Marr — manager of Haina Properties and owner of the 49-acre mill property — defaulted on a $4.785 million loan taken out Sept. 27, 2007, plus an additional $379,000 borrowed May 2, 2008.
All told, Marr owes almost $6.2 million to Haina Mill Mortgage Lender, counting principal, interest, fees, taxes and expenses.
Also named as defendants in the suit were Kamehameha Schools and Hamakua Land Partnership LLP as owner and lessee, respectively, of Standard Oil Road, the access road to the mill. In addition, the county was named for property tax purposes.
Marr bought the 49-acre mill property for $3.3 million in October 2007. He told area residents that the mill — which closed as a sugar mill in 1994 — would provide 110 jobs paying $12 to $25 an hour, and would run in an environmentally-responsible manner.
WAILUKU – Nearly six months after recommending that Hawaiian Commercial & Sugar Co. restore water to only one of 19 streams in East Maui, staffers for the state Commission on Water Resource Management have changed their minds – at the direction of balance-seeking commissioners in the heated controversy.
If commissioners follow the advice signed off by Deputy Director Ken Kawahara, HC&S will have to return water to a total of 14 of 27 streams in the East Maui watershed. Kawahara’s 64-page staff report advocates that six streams get some of their water back, totaling 10.46 million gallons a day.
The report was issued in time for a meeting at 1 p.m. Tuesday at the Paia Community Center, where a number of decisions could be made. It’s a continuation of a meeting held in December when commissioners asked the staff and different sides to come back with more information and new compromises.
Since the public will be given an opportunity to testify and all the sides are asked to give presentations about their own recommendations, two additional meetings are scheduled for June 16 and June 21. The last meetings drew more than 100 speakers a day.
PUUNENE – Within five years, Hawaiian Commercial & Sugar Co. may be out of the sugar business and use its 37,000 acres on Maui to grow much-desired biofuels, company, state and federal officials, announced Wednesday afternoon.
The announcement came with the personal endorsement of senior Hawaii U.S. Sen. Daniel Inouye, who made a pledge to sugar workers who gathered for the event at HC&S headquarters in Puunene.
"In my name, I promise HC&S will not go under like the 16 other sugar cane operations," Inouye said. "If I am wrong, I will be out of a job."
The U.S. Department of Energy, through the University of Hawaii, and the Navy, through the U.S. Department of Agriculture, will provide at least $4 million annually toward research to help HC&S determine whether it is feasible to convert the more than 130-year-old company into an "energy farm," or a high-tech producer of renewable fuels, said HC&S General Manager Chris Benjamin.
It would be a dramatic transformation, officials said. The move could preserve hundreds of agricultural jobs on Maui for decades to come and potentially lead to tens of millions of dollars in capital improvement investments to the company’s aging sugar mill.
By Chris Hamilton
POSTED: April 7, 2010
PUUNENE — Within the next five years to 10 years, Hawaii’s last sugar producer, Hawaiian Commercial & Sugar Co. could be out of the topsy-turvy granulated sugar business and making much-desired biofuels, company, federal and state officials announced Wednesday afternoon.
The U.S. Department of Energy, though the University of Hawaii, and the U.S. Department of Agriculture and Navy will receive $6 million annually to help HC&S determine whether it is feasible to convert the more than 130-year-old company into an "energy farm," or a high-tech producer of renewable fuels, said HC&S General Manager Chris Benjamin at a news conference.
It would be a dramatic transformation, participants said. The move could preserve hundreds of agricultural jobs on Maui for decades to come and potentially lead to tens of millions of dollars in capital improvement investments to the aging sugar mill.
"This (funding) could help define a new future for HC&S as an alternative energy producer," Benjamin said.