MSF Sugar

Shares / Stock Code

MSF

Stock Exchange / Sharemarket

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MSF Sugar (MSF) is an integrated grower, processor, marketer and exporter of raw sugar. Now based at Gordonvale just south of Cairns in Far North Queensland, their major milling assets are located in this region and the Fraser Coast region in South Eastern Queensland.

MSF Sugar was listed on the Australian Securities Exchange under the code MSF on 24 August 1971. They are majority Australian owned and Australian managed.

The company's assets include four sugar mills, supporting infrastructure agricultural property and water rights to support our cane growing activities. They also hold a major investment in Sugar Terminals Australia, the owner of six major port facilities in Queensland. The mills are located at Gordonvale, South Johnstone, Atherton Tablelands and Maryborough.

The property portfolio of predominantly cane land comprises almost 5,500 hectares in the Maryborough district, 60 hectares in the Isis district and 315 hectares in Far North Queensland. The company also own a 174 ha tract of former caneland known as Mary Harbour located in Maryborough and earmarked for a mixed urban development (subject to planning approval).

MSF Sugar owns water rights totalling 7,233 ML in the Lower Mary Irrigation Scheme and 142 ML in the Bundaberg Water Supply Scheme. They source sugar cane from our own property holdings and from approximately 660 independent growers, some of who lease land from the company.

In addition they have a significant minority stake investment in Sugar Terminals Limited, a bulk sugar port terminals operator. STL operates at the Queensland regional ports of Cairns, Mourilyan, Lucinda, Townsville, Mackay and Bundaberg. These terminals are able to store a total of two million tonnes of bulk raw sugar destined for the export trade.

MSF Sugar Company History

We trace our history back to 1886 when The Maryborough Sugar Factory began operations as a juice mill. The Maryborough region was one of Australia’s earliest sugar growing and processing areas. They listed as a public company in 1956 and were known as Maryborough Sugar Factory Limited from then to 2011.

The name change in 2011 reflects the changes in operations and the geographic shifts that have occurred in their asset base and the sugar industry in general. Over recent years they have concentrated on expanding their assets in Far North Queensland. This has been done because of the favourable climate for cane growing, less competition for land from other primary produce and good infrastructure such as roads, rail and port facilities. As a result, the company decided to relocate its head office to the Cairns region in June 2011.

Our focus on Far North Queensland gained impetus in 2010 when we formed the Northern Milling Joint Venture and subsequently acquired Bundaberg Sugar’s 50 percent interest in this joint venture by exercising a put option. This significant acquisition was completed in April 2011 and has increased the sugar producing capacity of the company considerable, making us the third largest producer of raw sugar in Australia.

Previous Company Name: Maryborough Sugar Factory Limited