Old Mossman mill to be sold back to growers
MOSSMAN
FAR Northern Milling Pty Ltd is buying back the Mossman Mill after entering into an agreement with the beleaguered Mackay Sugar.
Mossman and Tableland growers will take control of the facility after Mackay Sugar, the nation’s second largest miller, confirmed they’d entered into an agreement to facilitate the sale with the farming co-operative.
The growers are controlled by Far Northern Milling, who previously owned the mill.
“We are very happy to have reached agreement with the Mossman and Tableland Growers to hand back control of the Mossman Mill,” said Mark Day, Mackay Sugar Executive Chairman and CEO.
“They are the most appropriate owners of the mill. This transaction will enable us to concentrate on improving milling performance in the Mackay region.”
Mackay Sugar is believed to be struggling with debt in excess of $180 million.
The deal is suspected to go through after the current crushing season, tipped for December, with all employee entitlements and other historical agreements to be assumed as part of the sale.
A sale price has not bee disclosed.
The Mossman Mill, built in 1894, remains a pillar of the Douglas Shire community.
More to come…
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