Valhi Inc. says it intends to sell its Amalgamated Sugar Co. subsidiary to Snake River Sugar Co., an Oregon cooperative of sugar beet farmers, for about $250 million.
Amalgamated operates sugar factories in Twin Falls, Paul and Nampa, Idaho; and Nyssa, Ore. It also has other sugar facilities in Oregon, Utah, Idaho, Colorado and Washington.Valhi said closing is subject to Snake River obtaining sufficient financing and membership agreements from about 1,600 sugarbeet growers in Idaho, Oregon and Washington state.
Valhi, of Dallas, is a diversified company with interests in chemicals, construction material, sugar and fast food.
Valhi stock rose 62 1/2 cents, or 9.3 percent, to close at $7.371/2 a share on the New York Stock Exchange.