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Barber: Get Rid of Redpath

www.theglobeandmail.com/s...y/Business

BUSINESS TICKER: FOOD PRODUCTS

Tate & Lyle to sell Redpath division to American Sugar
Bloomberg, Staff

Tate & Lyle PLC, the maker of the sweetener Splenda, has agreed to sell its Canadian sugar unit to closely held American Sugar Refining Inc. as part of a shift toward more-profitable products.

The company will be paid £132-million ($301.9-million) on completion of the deal, according to a statement released yesterday.

Tate has been selling off businesses and closing plants to focus on products such as starches and the sucralose sweetener Splenda since the European Union cut sugar-production quotas. The company, once the world's biggest sugar refiner, had a loss in the 12 months ended March 31, and expects profit to miss estimates this year.

The sale of Tate & Lyle Canada, also known as Redpath Industries Ltd., "marks another important step in focusing Tate & Lyle's business on its value added strategy," CEO Iain Ferguson said.

Redpath, which runs a cane-sugar refinery in Toronto and a packing operation in Niagara Falls, had sales of £177-million in the last fiscal year, Tate said. The unit contributed £18-million to Tate's underlying profit.

The refinery is a landmark building on the Toronto waterfront. Last year, the famous "Redpath Sugar" sign that adorned the north side of the building was removed and replaced with a new "Tate & Lyle" sign. TATE (London) fell 5 pence to £5.92.
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[certainly interesting that the "famous" sign and its removal was deemed worth mentioning in the piece; sometimes, hysteria has its viral effect...]
 
I'm curious as to how American Sugar will deal with Redpath's imports from Cuba.
 
First you get the sugar, then you get the power, then you get the women
 
adma: "famous" and "significant" aren't the same thing.
 
"Tate & Lyle to sell Redpath division to American Sugar"

Perhaps American Sugar Inc. will will be more civically responsible and help open up the waterfront for all Torontonians and visitors to enjoy :rolleyes
 
unimaginative2: As far as I can tell, American Sugar Refining Inc. ( known as "Domino" south of the border, apparently ) is 36% owned by the Sugar Cane Growers Cooperative of Florida. So I gess that's where they'll raise cane for their Toronto operations.
 
adma: "famous" and "significant" aren't the same thing.
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babel: probably what's more at issue is that your narrow-apertured, ultra-selective, ultra-purified definition of "significance" has been, as a result of any degree of cultural change over the past few decades, marginalized. For better or for worse, maybe.

That's why the AP + BB thread banter is so internalized; half a century ago, such threads of discussion might have had more "universal" resonance. Whereas these days, even highbrow arts mavens feel obligated to bow to "insignificant" pluralism; even if, when it comes to design and urban form, it's sort of like "the pops"...
 
Anything can be noteworthy if you champion the cause of "insignificance" as if it were significant - as adma, alone in the universe, does.
 
Despite adma's claim to the contrary, even a cursory glance of The AP and BB Thread shows that increasing numbers of forum members have come over to the dark side and are now making intelligent comments therein about said major art form. If David Cronenberg can write an opera based on The Fly, I daresay we could have one called Redpath - with an admaesque character scrabbling about in a junk yard looking for large, discoloured, metal sans-serif letters, rearranging them on the ground to spell out rude words and giggling insanely.
 
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