Results of grower survey released
In April, Mackay Sugar (MS) sent out a survey to gauge what growers believe should be done with respect to the company’s future. The MS survey gave two options – if growers would prefer to implement the $2 levy, or sell the business.
The results were:
- A 61.6% response rate from the 881 surveys sent
- Deferred cane payment, with 51.4% in favour
- Sale of business, with 48.6% in favour
Given the above it appears no clear mandate has been given, apart from a small weighting towards retaining the business. The board will make the final decision, and will meet on 25 May to discuss the results.
The cogen and other asset sale processes continue.
We will continue to have regular meetings with MS, and the company will also continue to post updates to its website.
The survey results can be found here.
Director - Credit Research, Industrials and Corporates. Will has over 15 years’ experience in credit and fixed income markets, including 6 in London, working at fund managers, banks and government treasury.