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The 1983 Sugar Industry Crisis
   
         
 
       The crisis of the sugar industry beginning 1983 did not spare Bukidnon, triggering a steep down trend in production. As a result, the company failed to settle its financial obligations. Thus, its assets were foreclosed by PNB and subsequently turned over to APT for privatization.
     
       A new corporation organized by a group of sugar traders acquired the assets from APT in an open bidding on August 3, 1988. This new group is called the Busco Sugar Milling Co., Inc. headed by Mr. Julio O. Sy Sr. as President, with the incorporating Board of Directors composed of Messrs. Liong Cio Chang, Henry K. Chang, James S. Chua, Roman Ozaeta Jr., Bernard T. Sim, Rodolfo T. Sim, Julio O. Sy Sr., Roman T. Yap, Go Eng Uy and Ramon V. Go.
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Main Office: 4/F Corinthian Plaza, Paseo de Roxas, Makati City
Millsite: Butong, Quezon, Bukidnon
Tel. Nos. 817-8403/817-8484/ 817-9014/817-9015
Fax Nos. 815-4419 811-3132/ 811-3219
E-Mail: thesaortiz@yahoo.com
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