Published Thursday, 10 July, 2008 at 04:48 PM
Minister for Primary Industries and Fisheries
The Honourable Tim Mulherin
Sugar merger a great deal for Central Queensland producers
The Minister for Primary Industries and Fisheries Tim Mulherin today said he was delighted with the announcement of the proposed merger of Proserpine Co-operative and the newly formed Mackay Sugar Limited.
The Minister said the proposed merger was a very practical and almost obvious solution to help strengthen the sugar industry in the central region.
“In my view, the industry must continue to consolidate,” he said.
“The milling sector will lead the way in diversification so a larger, stronger milling group in the central region will be a benefit to farmers, harvester operators, mill staff and employees.
“Proserpine and Mackay have already started on diversification processes with involvement in refining and furfural plus the proposed cogeneration project at Racecourse Mill.”
Mr Mulherin commented that this was a very positive move at a time when the industry was facing large cost increases and could be forgiven for being slightly negative.
“I congratulate both organisations for having the vision and courage to lead the industry forward,” he said.
On the recent announcement that Mackay Sugar members had overwhelmingly voted to change Mackay Sugar Co-operative to a private, unlisted company, Mr Mulherin said this was another great result for the industry in the central region.
“ The change to an unlisted company will give Mackay Sugar the flexibility it needs to raise capital to proceed with its diversification plans.”
Media: 32396530
The Minister said the proposed merger was a very practical and almost obvious solution to help strengthen the sugar industry in the central region.
“In my view, the industry must continue to consolidate,” he said.
“The milling sector will lead the way in diversification so a larger, stronger milling group in the central region will be a benefit to farmers, harvester operators, mill staff and employees.
“Proserpine and Mackay have already started on diversification processes with involvement in refining and furfural plus the proposed cogeneration project at Racecourse Mill.”
Mr Mulherin commented that this was a very positive move at a time when the industry was facing large cost increases and could be forgiven for being slightly negative.
“I congratulate both organisations for having the vision and courage to lead the industry forward,” he said.
On the recent announcement that Mackay Sugar members had overwhelmingly voted to change Mackay Sugar Co-operative to a private, unlisted company, Mr Mulherin said this was another great result for the industry in the central region.
“ The change to an unlisted company will give Mackay Sugar the flexibility it needs to raise capital to proceed with its diversification plans.”
Media: 32396530