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The Honolulu Advertiser

Posted at 12:41 p.m., Thursday, August 11, 2005

BUSINESS BRIEFS
A&B sells stake in sugar refiner

Advertiser Staff

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Alexander & Baldwin Inc. yesterday said it sold its remaining 40 percent stake in sugar refiner C & H Sugar Co. to American Sugar Refining Inc. for an undisclosed amount.

Maui-based Hawaiian Commercial & Sugar Co., an A&B division, sells the bulk of its raw sugar to American Sugar Refining, which refines the sugar in Crockett, Calif. The sale does not impact any operational agreements and isn't expected to have an impact on HC&S, said Steve Holaday, plant manager for HC&S in Pu'unene, Maui.

Under terms of the sale most proceeds went to repay C&H debt with a minimal amount going to A&B and other C&H sellers. C&H has no employees in Hawai'i.

American Sugar Refining is primarily owned by Florida sugar growers.

Shares of Honolulu-based A&B rose 25 cents to close at $51.86 yesterday on the Nasdaq National Market.



Hawaiian Air load factor rises in July from year ago

Hawaiian Airlines' load factor rose to 89.8 percent in July, up from a year earlier when the airline filled 88.3 percent of its seats.

Hawaiian flew 547,316 passengers in July, up from 533,961 a year earlier. Revenue passenger miles rose to 627 million from 583 million the previous year. Hawaiian shares fell 18 cents to close at $4.07.



Japanese Chamber of Commerce sets art show and sale

The Honolulu Japanese Chamber of Commerce will hold its annual "Commitment to Excellence" art exhibition and sale from August 16-26 at the Academy Art Center at Linekona School.

The gallery hours for the public are from 10:30 a.m. to 4:30 p.m. Tuesday through Saturday, and 1 p.m. to 5 p.m. Sunday. The exhibition will feature 125 pieces of art selected from more than 600 entries.