Sift together sugar and next 4 ingredients in a large bowl.
Stir together butter and next 3 ingredients in a saucepan over medium-low heat, stirring constantly, 5 minutes or just until butter and shortening melt.
Remove from heat; pour over sugar mixture, stirring until dissolved. Cool slightly.
Stir in buttermilk, eggs, and vanilla.
Pour into a greased and lightly floured 15- x 10-inch jelly-roll pan.
Bake at 350 for 30 to 35 minutes. (Cake will have a fudge-like texture.)