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Imperial Sugar Settled Refinery Explosion Lawsuit
Tuesday, December 29, 11:25 AM ET

Imperial Sugar (NASDAQ:IPSU) said it has settled an insurance claim over its 2008 refinery explosion, for a total of $345 million.

The explosion in 2008 killed 14 workers and injured many more at a Georgia facility.

Imperial’s insurers have previously paid $300 million, and the final $45 million will be paid in early January.

The company is one of the biggest sugar processors in the US.

Most of its competitors are privately traded, but major food producers in the market include Kraft (NYSE:KFT) and ConAgra (NYSE:CAG).

Imperial Sugar is trading up fourteen and three quarter percent early Tuesday.

For MarketNewsVideo.com, I'm Sayoko Murase.

Imperial Sugar Settled Refinery Explosion Lawsuit picture
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