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Michigan Sugar Continues to Grow
September 30, 2003
Refinancing deal will keep Michigan Sugar growing
strong
Just one year after Michigan Sugar was purchased out of
bankruptcy by a grower cooperative group, Saginaw Future was able to assist
Michigan Sugar with a refinancing package that significantly strengthened
the company’s long-term growth potential.
Saginaw Future helped guide Michigan Sugar through a difficult refinancing
process by working with the appropriate state agencies, including the
Michigan Economic Development Corporation, Treasury and the Lt. Governor’s
Office, to help secure a subordination of state loan funds. The successful
refinancing deal resulted in $1.5 million in equity investment. Michigan
Sugar Company is headquartered in Saginaw Township and has a total of four
processing facilities, one of which is located in Carrollton Township.
Michigan Sugar produces refined granulated sugar, sugar beet pulp and beet
molasses.
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