MONTGOMERY, Ala. (AP) - Weil Brothers Cotton Inc., a 130-year-old cotton brokerage based in Montgomery, is shutting down.
Andy Weil, one of the principals in the family-owned company that has a global reach, said Thursday the cotton market's volatility in March was significant and the risks of trading cotton have become greater.
He told Montgomery television station WSFA the closing of Weil Brothers will be gradual because of outstanding commitments. He expects it to be complete in early 2010.
The company has been affiliated with Stern Ltd. of England since 1991. Weil Brothers handles sales and other operations in the U.S., Central and South America, China and Australia.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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