Published: April 29, 2009
Imperial Sugar Updates Port Wentworth Bulk Production Date
(BUSINESS WIRE)
The Imperial Sugar Company (NASDAQ:IPSU) announced that it now expects
to commence production of granulated bulk sugar at its Port Wentworth,
Georgia refinery in mid June. The Company continues to project the
complete restoration of the packaging capabilities by the fall of 2009.
The Georgia facility, which was extensively damaged in an industrial
accident in February 2008, is in the process of a reconstruction project
with an estimated cost of $200 million to $220 million.
About Imperial Sugar
Imperial Sugar Company is one of the largest processors and marketers of
refined sugar in the United States to food manufacturers, retail grocers
and foodservice distributors. The Company markets products nationally
under the Imperial®, Dixie Crystals and Holly brands. For more
information about Imperial Sugar, visit www.imperialsugar.com.
Statements regarding Port Wentworth construction costs, timelines and
operational restart dates, future market prices and margins, future
expenses and liabilities arising from the Port Wentworth incident,
future insurance recoveries, future actions regarding the Louisiana
Sugar Refinery, LLC venture, future import and export levels, future
government and legislative action, future operating results, future
availability of raw sugar, operating efficiencies, future investments
and initiatives, future cost savings, future product innovations, future
energy costs, our liquidity and ability to finance our operations and
capital investment programs, future pension plan contributions and other
statements that are not historical facts contained in this release are
forward-looking statements that involve certain risks, uncertainties and
assumptions. These risks, uncertainties and assumptions include, but are
not limited to, market factors, farm and trade policy, results of
damaged equipment inspections, unforeseen engineering, construction and
equipment delays, results of insurance negotiations, our ability to
realize planned cost savings and other improvements, the available
supply of sugar, energy costs, the effect of weather and economic
conditions, results of actuarial assumptions, actual or threatened acts
of terrorism or armed hostilities, legislative, administrative and
judicial actions and other factors detailed in the Company's Securities
and Exchange Commission filings. Should one or more of these
risks or uncertainties materialize, or should underlying assumptions
prove incorrect, actual outcomes may vary materially from those
indicated.
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