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Sep 5, 2011

But will shareholders sell B.S.I.?

According to Ortega, while financing can be secured the problem is that the owners of the shares are not willing to sell to them. The B.S.C.F.A. claims it still does not have all the data to complete their buy-out package. They are asking the government to intervene.

Alfredo Ortega

“We have our technical team working at this point in time. One of the problems that we are facing at this time is that neither B.S.I. nor CFA are making available the detailed information that is needed so that the package can be developed; the plan can be developed based on what the financials are and what is the value and what the assets are. These are the problems that we are facing at this point in time. So we are seeking with all the government and people involved so that we can get that information. And the faster we can get that information, the faster we can get a cheque from these people, from Sterling.  What we are seeking at this point in time is that, I have already had a conversation with the PM through telephone but I hadn’t had the opportunity because he was out of the country this week so I hope that by this week we will be able to sit with him. We have already sat with the Minister of Agriculture, the DPM and we had a talk only with Minister Elrington who had a meeting with Mr. Alexis Rosado so we are trying to move with the people that can give us that helping hand and we hope that we can get that information available from CFA or B.S.I. and from there, then we can come to the PM and present a sound plan to him.”

Delahnie Bain

Alfredo Ortega

“The ministers you have spoken with, have they been receptive of the idea so far?”

Alfredo Ortega

“Yes, yes. Mr. Montero and Mr. Sedi were very receptive and also the DPM was very receptive in this and I think that we can get a helping hand from them. I think that it is time for us to move—well, the farmers to move from only being cane producers to another step within the industry.”

So will the industry remain in Belizean hands? Well, the B.S.C.F.A. that they are requesting a meeting with the Prime Minister.

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7 Responses for “But will shareholders sell B.S.I.?”

  1. javier solis says:

    i think it would be one of the gravest error to have these set of fools be given the government’s support for this venture. Cane farmers are a set of ignorant people who accept violence to solve all disputes. Ortega’s days are numbered and he is trying to give false hope to the farmers to stay on. Imagine anyone giving him to cheque to buy anything, the way he talks?

  2. redbouy says:

    look it all seems to be good. but in reality history has shown that the canefarmers are not capable. I know that people think it is an excellent idea but they can’t even take care of their own association so how will they handle the factory…… the problem with them is theives in managment….. also farmers are easily manipulated…. not all of them but the vas majority…. and because of this they are controled….

  3. Sugar says:

    Could it be that you do NOT have the information because you are trying to sell what is NOT yours??? wonder how simple-simon you may appear to foreign bankers

  4. david says:

    Government want to makes every effort to sit with the criminal gangs but not with hardworking cane farmers when this not only impact a small group of people but the country on a whole…

  5. javier solis says:

    Look, the minute that the international financiers hear that cane farmers will be involved in the shareholding of BSI they will bolt. Remember that BSI also owes us $30 million for Belcogen. Please let us reason and not let politics bring down our main industry. Everyone is scared for their life in telling Farmers the truth that they will never be able to manage BSI, that farmers will fail at that venture the same manner they have failed to improve cane supplies. This is what got the industry in this position in the first instance. Farmers are goverend by emotions and by the loudest farmer at meetings with the sharpest machete. There is no competence at the cane farmers association. Look at their present spokesman, a chemically dependent man, Cervantes.

  6. Belizean says:

    Its sad that these farmers want to control BSI not only to own but to try to secure their own future given the fact that they were always the one who got the $#!!!@# end of the stick when things go sour in the industry. I dont blame them, but they should have taken their profits they were making when the prices of sugar were good, and invested it in their kids education, to ensure they can take over the BSCFA and hold positions within BSI. Sadly this was not done, and at this crossroads its too late. Mr. Ortega’s efforts is genuine but no other stake holder will want to help them, including the government, cause they were the ones who gave PM a black eye when they rioted. So the government already has an opinion on the farmers.

    The sad thing is, the PM cancelled a trip to go abroad or returned early to meet with the gang members, but yet, in the interest of 6000 cane farmers he is not making himself available. They are not priority. Mr. Ortega, you need to start think long term and how your BSCFA can improve delivery, quality and tonnage and not try to be a part of the BSI solution when your predecessors caused the industry to be in this critical point.

  7. Steve says:

    Belize should have confidence in cane farmers in their bid to buy BSI. Cane farmers have the resource personnel to make the industry work. Those cane farmers that Javier Solis is undermining have sons and daughters that are well educated, highly qualified with B.A. M.A. even Ph. D. Javier Solis, if he is a norteno, should remember that the dirty-hand cane farmers have greatly contributed to the Bz. economy. Sugar had been the # 1 industry bringing millions of foreign exchange and enabling gov”ts to improve the country’s infrastructure. Now that they need a little help from gov’t, Barrow is turning his back to them. Cane farmers simply want to continue to toil the land; they want above all to continue being owners of their own destiny, being their own boss; to enjoy the fruits of their hands. otherwise, Barrow and javier solis want cane farmers to become the 16th & 17th century slaves. Vamos Caneros! Forjemos un mejor bienestar para Belice y nuestros hijos. Mostremosle a aquellos que piensan chico que aunque nuestras manos estan sucios pero tenemos sabiduria para manejar un fabrica!!!!!!!!!!!!

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