Rocky Mountain Sugar Growers Cooperative, while continuing efforts to buy Western Sugar from Tate and Lyle PLC, will use a unified approach in contracting this spring.
Because the buyout has not been finalized as the two parties approach the planting season, joint contracts will be used to avoid confusion among growers.
Four points were made by the co-op that have been agreed to by Tate and Lyle that will be applicable in the contracting process:
1)
Growers who have subscribed for stock in the Cooperative will be permitted to grow the number of acres for which they have subscribed.
2)
Growers who subscribed to the Cooperative will be permitted to grow additional acres during the 2002 crop year without the requirement of buying stock in the co-op at this time.
3)
Grower who have not subscribed to the co-op will be permitted to grow a crop during the final year of the Western contract without subscribing at this time.
4)
The Cooperative will accept subscriptions from growers who wish to subscribe at this time at $200 per acre. Growers will be given 30 days written notice before the price of subscriptions will be increased.
The Cooperative has agreed that in the event of the completed purchase by the co-op, all the contracts set forth will be honored for the 2002-growing season.
Tate and Lyle has also said that if the purchase is not completed it will honor its commitments under terms of the current Master Sugar Beet Contract.
Rick Dorn of the Cooperative emphasized the importance to all growers to contract as soon as possible in order that arrangements for the new crop year can be finalized.