Imperial Sugar will close its Gramercy, Louisiana, sugar refinery by the end of the year and reduce packaging operations, laying off 170 of the facility's 283 employees, the Advocate reports.

The closure anticipates the opening of a new $190 million refinery that represents a partnership between Imperial, Cargill, and the Sugar Growers and Refiners cooperative. Workers of the former plant will be able to apply for a job with the new facility, known as the Louisiana Sugar Refinery (LSR).

"The new LSR facility is good for the long-term viability of the Louisiana sugar industry," said Imperial spokesperson Clinton Woods. "Imperial and its partners chose to form this venture due to the supply efficiencies of collaborating in this construction."

Imperial has not officially stated how many jobs it will create at the new facility.