U.S. Sugar is considered in South Florida along with Florida Crystals and the 54-member Sugar Cane Growers Cooperative of Florida as Big Sugar.[5] The company is one of the largest job providers in the Glades region of Florida, employing more than 2,500 employees.
In 1931, industrialist and philanthropist Charles Stewart Mott purchased assets near Clewiston, Florida from a 1920s bankrupt sugarcane company, Southern Sugar Company, to form the United States Sugar Corporation.[6] In the 1940s, U.S. Sugar was charged with slavery violation.[5]
Mott later transferred shares to his Charles Stewart Mott Foundation. When the Tax Reform Act of 1969 limited the shares that private family foundations could hold of a corporation, the foundation gave a large number of shares to the Mott Children's Health Center, a Flint charitable medical organization founded in 1939, to be below the 35% limit.[7]
In 1962, the company opened the Bryant Sugar House, which at the time was the largest and most advanced sugarcane processing mill in the world. The mill had a capacity of 5,000 tons of sugarcane per day.
After C.S. Mott died in 1973, C.S. Harding Mott, his son, took over as chairman of the corporation. With sugar at 60 cents a pound in the 1970s and purchasers switching to corn syrup, the company expanded into other areas of farming including cattle, citrus and vegetables. In 1980, the U.S. acquired South Bay Growers.[6] South Bay Growers produced 13% of the US's leafy vegetables growing lettuce, celery and others.[8] In late 1985, U.S. Sugar began planting orange trees.[3] In 1983, the company formed an Employee stock ownership plan (ESOP) in an attempt to go private. U.S. Sugar borrowed millions in long-term debt to create the ESOP. Some shareholders did not sell out believing the price per share to be too low triggering a class action lawsuit.[9]
The ESOP and Mott group of owners in October 1987 offered $80 per share for the other 110,000 voting shares held by 500 public shareholders. This took the company private and reduced its reporting costs.[9]
Most of South Bay Growers was closed down on September 4, 1994, after four out of five prior years of losses including 10 million in 1994. South Bay's salad processing plant with customers like McDonald's and Burger King and 146 employees would continue to operate while seeking new ownership.[8]
Big sugar moved in the early 1990s to mechanical cane harvesters.[5] The displaced cane field workers filed a class action lawsuit in which the company paid $5 million plus in 1998.[3] In 2004, U.S. Sugar closed a mill and laid off workers.[5] Its Bryant mill was closed in 2007.[3]
In February 2008, the corporation, CEO Robert Buker, Chairman William S. White and his family and Charles Stewart Mott Foundation were sued by employees claiming that they were not getting full value for the ESOP stock given two bids for the company stock for amounts more than ESOP redemption were offered by outside parties. Employees alleged that the Gaylon Lawrence family agro-conglomerate offered $293 per share for the company twice, once in August 2005 and in January 2007. The Company stated that the offer (approximately $500 million) was well below market value—which was proved to be the case when the State of Florida publicly offered to buy US Sugar for $2 billion in 2008.[3]
EnvironmentEdit
On 24 June 2008, Florida's Governor, Charlie Crist, announced the state was in negotiations to buy 187,000 acres (760 km2) of land and all of its manufacturing and production facilities for an estimated $1.7 billion from the company as part of the Comprehensive Everglades Restoration Plan.[10][11] Under the proposals, the company would continue to farm the land for the next six years and convert the land back to its original naturalmarshland state.[10] In November 2008, the agreement was revised to offer $1.34 billion, allowing sugar mills in Clewiston to remain in production.[12] Critics of the revised plan say that it ensures sugarcane will be grown in the Everglades for at least another decade.[13]
According to the Florida Sugarcane League,[16] sugarcane farming has a $3.2 billion impact and supports more than 12,500 jobs. With more than 2,500 employees, U.S. Sugar is one of the "largest agribusiness employers in the Everglades region."[17] However, sugarcane in the United States remains nearly twice as expensive per pound as in other developed countries due to the failure the industry would face without government subsidies.[18]
^Funcheon, Deirdra (March 1, 2016). "Mott Foundation Gives Environmental Grants While Destroying the Environment, Critics Say". New Times Broward-Palm Beach. Retrieved May 31, 2018.
^Mickle, Bryn (July 3, 2008). "Sale of U.S. Sugar land near Florida Everglades could mean millions to local charities; C.S. Mott Foundation, Mott Children's Health Center and Community Foundation of Greater Flint all could benefit". Flint Journal. MLive.com. Retrieved May 31, 2018.
^ abcdeBlum, Vanessa (February 1, 2008). "Workers, retirees sue U.S. Sugar". Sun Sentinel. Tribune Publishing. Retrieved May 31, 2018.
^"U.S. Sugar Corp. (About)". U.S. Sugar Corp. Retrieved 2008-06-25.
^ abcdClary, Mike (April 25, 2004). "A Bittersweet Tale". Sun Sentinel. Tribune Publishing. Retrieved 31 May 2018.
^ abDurkin, Barbara J.; Altaner, David (May 12, 1989). "C.S. Harding Mott, Lead U.S. Sugar Corp". Sun Sentinel. Tribune Publishing. Retrieved May 31, 2018.
^Walsh, Mary Williams (May 29, 2008). . The New York Times. Archived from the original on May 31, 2018. Retrieved May 31, 2018.
^ abMcCabe, Robert (July 7, 1994). "South Bay Growers To Close". Sun Sentinel. Tribune Publishing. Retrieved May 31, 2018.
^ abPounds, Marcia H. (October 10, 1987). "U.s. Sugar Wants To Go Private". Sun Sentinel. Tribune Publishing. Retrieved May 31, 2018.
^ abSchor, Elana (2008-06-24). "Florida to buy 187,000 farmland acres to preserve Everglades". Guardian. Retrieved 2008-06-25.
^Damien Cave; John Holusha (2008-06-24). "Florida to Buy Sugar Maker in Bid to Restore Everglades". The New York Times. Retrieved 2008-06-24.
^Cave, Damien (November 12, 2008). "Everglades Deal Shrinks to Sale of Land, Not Assets", The New York Times, p. 16.
^Bussey, Jane, Morgan, Curtis (November 16, 2008). "Land deal could lift U.S. Sugar's sagging fortunes: Is it a buyout or a bailout? Either way, a pending deal to sell land to the state for Everglades restoration could reverse Big Sugar's flagging finances", The Miami Herald (Florida).
^"U.S. Sugar Corp. (Company History)". U.S. Sugar Corp. Retrieved 2012-11-19.
^"U.S. Sugar Corp. (Environmental Stewardship)". U.S. Sugar Corp. Retrieved 2012-11-19.
^"The U.S. Spends $4 billion a year subsidizing 'Stalinist-style' domestic sugar production".
External linksEdit
Wikimedia Commons has media related to U.S. Sugar.
U.S. Sugar Website
October 16, 2023
sugar, this, article, multiple, issues, please, help, improve, discuss, these, issues, talk, page, learn, when, remove, these, template, messages, this, article, needs, updated, please, help, update, this, article, reflect, recent, events, newly, available, in. This article has multiple issues Please help improve it or discuss these issues on the talk page Learn how and when to remove these template messages This article needs to be updated Please help update this article to reflect recent events or newly available information August 2017 This article s Environment section contains content that is written like an advertisement Please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view July 2018 Learn how and when to remove this template message Learn how and when to remove this template message U S Sugar Corporation is a privately owned agricultural business based in Clewiston Florida 3 The company farms over 230 000 acres of land in the counties of Hendry Glades Martin and Palm Beach It is the largest producer of sugarcane in the United States by volume producing over 700 000 tonnes per year The company is also a large producer of refined sugar sweet corn and oranges 4 U S Sugar CorporationHeadquarters of U S Sugar in Clewiston FloridaTypePrivately held corporationIndustryagriculturalPredecessorSouthern Sugar CorporationFounded1931 92 years ago 1931 FounderCharles Stewart MottHeadquartersClewiston FloridaKey peopleWilliam S White Chairman Robert Buker CEO Productsrefined sugarsweet cornorangesOwnersCompany s pension fund and employees 40 estimate 1 Mott Children s Health Center 22 Charles Stewart Mott Foundation 19 Community Foundation of Greater Flint 6 2 SubsidiariesSouthern Gardens CitrusWebsitewww wbr ussugar wbr comU S Sugar is considered in South Florida along with Florida Crystals and the 54 member Sugar Cane Growers Cooperative of Florida as Big Sugar 5 The company is one of the largest job providers in the Glades region of Florida employing more than 2 500 employees Contents 1 History 2 Environment 3 Economy 4 See also 5 References 6 External linksHistory EditIn 1931 industrialist and philanthropist Charles Stewart Mott purchased assets near Clewiston Florida from a 1920s bankrupt sugarcane company Southern Sugar Company to form the United States Sugar Corporation 6 In the 1940s U S Sugar was charged with slavery violation 5 Mott later transferred shares to his Charles Stewart Mott Foundation When the Tax Reform Act of 1969 limited the shares that private family foundations could hold of a corporation the foundation gave a large number of shares to the Mott Children s Health Center a Flint charitable medical organization founded in 1939 to be below the 35 limit 7 In 1962 the company opened the Bryant Sugar House which at the time was the largest and most advanced sugarcane processing mill in the world The mill had a capacity of 5 000 tons of sugarcane per day After C S Mott died in 1973 C S Harding Mott his son took over as chairman of the corporation With sugar at 60 cents a pound in the 1970s and purchasers switching to corn syrup the company expanded into other areas of farming including cattle citrus and vegetables In 1980 the U S acquired South Bay Growers 6 South Bay Growers produced 13 of the US s leafy vegetables growing lettuce celery and others 8 In late 1985 U S Sugar began planting orange trees 3 In 1983 the company formed an Employee stock ownership plan ESOP in an attempt to go private U S Sugar borrowed millions in long term debt to create the ESOP Some shareholders did not sell out believing the price per share to be too low triggering a class action lawsuit 9 The ESOP and Mott group of owners in October 1987 offered 80 per share for the other 110 000 voting shares held by 500 public shareholders This took the company private and reduced its reporting costs 9 Most of South Bay Growers was closed down on September 4 1994 after four out of five prior years of losses including 10 million in 1994 South Bay s salad processing plant with customers like McDonald s and Burger King and 146 employees would continue to operate while seeking new ownership 8 Big sugar moved in the early 1990s to mechanical cane harvesters 5 The displaced cane field workers filed a class action lawsuit in which the company paid 5 million plus in 1998 3 In 2004 U S Sugar closed a mill and laid off workers 5 Its Bryant mill was closed in 2007 3 In February 2008 the corporation CEO Robert Buker Chairman William S White and his family and Charles Stewart Mott Foundation were sued by employees claiming that they were not getting full value for the ESOP stock given two bids for the company stock for amounts more than ESOP redemption were offered by outside parties Employees alleged that the Gaylon Lawrence family agro conglomerate offered 293 per share for the company twice once in August 2005 and in January 2007 The Company stated that the offer approximately 500 million was well below market value which was proved to be the case when the State of Florida publicly offered to buy US Sugar for 2 billion in 2008 3 Environment EditOn 24 June 2008 Florida s Governor Charlie Crist announced the state was in negotiations to buy 187 000 acres 760 km2 of land and all of its manufacturing and production facilities for an estimated 1 7 billion from the company as part of the Comprehensive Everglades Restoration Plan 10 11 Under the proposals the company would continue to farm the land for the next six years and convert the land back to its original natural marshland state 10 In November 2008 the agreement was revised to offer 1 34 billion allowing sugar mills in Clewiston to remain in production 12 Critics of the revised plan say that it ensures sugarcane will be grown in the Everglades for at least another decade 13 In October 2010 the company sold 26 800 acres of land to the South Florida Water Management District 14 for the River of Grass Restoration Project 15 Economy EditAccording to the Florida Sugarcane League 16 sugarcane farming has a 3 2 billion impact and supports more than 12 500 jobs With more than 2 500 employees U S Sugar is one of the largest agribusiness employers in the Everglades region 17 However sugarcane in the United States remains nearly twice as expensive per pound as in other developed countries due to the failure the industry would face without government subsidies 18 See also EditSouth Central Florida Express Inc the railway run by the company Draining and development of the Everglades Everglades H 2 Worker Restoration of the Everglades Sugar cane mill U S Sugar 148 steam locomotiveReferences Edit Funcheon Deirdra March 1 2016 Mott Foundation Gives Environmental Grants While Destroying the Environment Critics Say New Times Broward Palm Beach Retrieved May 31 2018 Mickle Bryn July 3 2008 Sale of U S Sugar land near Florida Everglades could mean millions to local charities C S Mott Foundation Mott Children s Health Center and Community Foundation of Greater Flint all could benefit Flint Journal MLive com Retrieved May 31 2018 a b c d e Blum Vanessa February 1 2008 Workers retirees sue U S Sugar Sun Sentinel Tribune Publishing Retrieved May 31 2018 U S Sugar Corp About U S Sugar Corp Retrieved 2008 06 25 a b c d Clary Mike April 25 2004 A Bittersweet Tale Sun Sentinel Tribune Publishing Retrieved 31 May 2018 a b Durkin Barbara J Altaner David May 12 1989 C S Harding Mott Lead U S Sugar Corp Sun Sentinel Tribune Publishing Retrieved May 31 2018 Walsh Mary Williams May 29 2008 Ostensibly Independent a Charity Is U S Sugar s Swing Vote Shareholder The New York Times Archived from the original on May 31 2018 Retrieved May 31 2018 a b McCabe Robert July 7 1994 South Bay Growers To Close Sun Sentinel Tribune Publishing Retrieved May 31 2018 a b Pounds Marcia H October 10 1987 U s Sugar Wants To Go Private Sun Sentinel Tribune Publishing Retrieved May 31 2018 a b Schor Elana 2008 06 24 Florida to buy 187 000 farmland acres to preserve Everglades Guardian Retrieved 2008 06 25 Damien Cave John Holusha 2008 06 24 Florida to Buy Sugar Maker in Bid to Restore Everglades The New York Times Retrieved 2008 06 24 Cave Damien November 12 2008 Everglades Deal Shrinks to Sale of Land Not Assets The New York Times p 16 Bussey Jane Morgan Curtis November 16 2008 Land deal could lift U S Sugar s sagging fortunes Is it a buyout or a bailout Either way a pending deal to sell land to the state for Everglades restoration could reverse Big Sugar s flagging finances The Miami Herald Florida U S Sugar Corp Company History U S Sugar Corp Retrieved 2012 11 19 U S Sugar Corp Environmental Stewardship U S Sugar Corp Retrieved 2012 11 19 Florida Sugarcane League U S Sugar The U S Spends 4 billion a year subsidizing Stalinist style domestic sugar production External links Edit nbsp Wikimedia Commons has media related to U S Sugar U S Sugar Website Retrieved from https en wikipedia org w index php title U S Sugar amp oldid 1177850723, wikipedia, wiki, book, books, library,
