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IMPERIAL HOLLY CORPORATION ANNOUNCES DOWNSIZING OF CALIFORNIA BEET SUGAR OPERATIONS

 SUGAR LAND, Texas, May 11 /PRNewswire/ -- Imperial Holly Corporation (AMEX: IHK) announced today that the Betteravia, Calif. beet sugar factory operated by its Holly Sugar Corporation subsidiary would cease sugar beet processing following completion of the current production campaign this summer. This action will have no impact on Holly's customers as the facility, located near the Los Angeles market, will continue to package and distribute refined sugar transferred from other production facilities.
 Citing high raw material transportation costs, a diminishing supply of sugar beet acreage available for this factory, and increasing governmental and environmental regulations, the company expects the move to reduce unit production costs in California, allowing it to compete more effectively in the refined sugar market. Additionally, the company has cost-effective opportunities to increase sugar production at its seven remaining beet sugar factories and cane sugar refinery to replace the Betteravia production volumes, which represented approximately 7 percent of fiscal 1993 sugar production.
 The company will incur a pre-tax charge of $3.3 million in its recently completed fiscal year ended March 31, 1993, for costs related to the downsizing. Final fiscal 1993 results are expected to be released in the third week of May.
 -0- 5/11/93
 /CONTACT: James Kempner, executive vice president and chief financial officer of Imperial Holly Corporation, 713-491-9181/
 (IHK)


CO: Imperial Holly Corp. ST: Texas IN: FOD SU:

LD -- NY104 -- 7299 05/11/93 18:45 EDT
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Publication:PR Newswire
Date:May 11, 1993
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