Tag: GrainCorp

GrainsConnect Canada, UFA launch new canola program to help farmers maximise returns

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CANADA— GrainsConnect Canada (GCC) has partnered with the United Farmers of Alberta Co-operative (UFA) to offer a new pilot program for canola growers in an effort to maximise their returns. The new program gives canola growers the opportunity to increase returns on their 2021 canola crop with a discount of up to C$12 per bag on UFA seed and C$5 per/MT above posted bids from GCC. In a statement, President of GCC, Warren Stow said that his company is focused on providing grain growers with more choice, more competition and…

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Robert Spurway to take over as GrainCorp’s CEO post demerger of Malt business

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AUSTARLIA – Grain and commodities storage company, GrainCorp has appointed Robert Spurway to take up the role of Managing Director and CEO after completion of the planned demerger of the Company’s Malt business in early 2020. To enhance a more strategic focus on the business, GrainCorp is planning to demerge its global malting business to form a new division, MaltCo. This will result in the formation of two separate businesses: one focused on malting business and a stand-alone Australian grains business. The new GrainCorp will entirely operate in grains, oilseeds,…

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GrainCorp announces leadership changes following proposed demerger

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AUSTRALIA – GrainCorp has announced several leadership changes to its board and executive roles following the proposal to demerge its Malt business. On condition that the demerger proceeds, Graham Bradley AM will be appointed as Chairman of the Malt business (“MaltCo”). Peter Richards has been appointed as Deputy Chairman of GrainCorp with immediate effect and he will assume the role of Chairman of GrainCorp. To enhance a more strategic focus on the business, GrainCorp is planning to demerge its global malting business to form a new division, MaltCo. This will…

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GrainCorp inks deal to reduce cash flow volatility in grain production

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AUSTRALIA – Grain and commodities storage company, GrainCorp has announced that it has signed a 10-year contract to manage the risk associated with the volatility of eastern Australian winter grain production. The deal targets to reduce cash flow and earnings volatility resulting from severe drought in some parts of Australia. “The purpose of the Contract is to smooth GrainCorp’s cash flow and earnings across volatile east coast Australia grain harvests. “As a result, the Contract will have several benefits for GrainCorp and its shareholders including a reduction in cash flow…

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GrainCorp plans to demerge global malting business in portfolio review

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AUSTRALIA – Australia’s grain and commodities supplier, GrainCorp has announced intentions to demerge its global malting business to form MaltCo to enable a more strategic focus on the division. The strategic portfolio review will see the creation of two separate businesses to create one of the world’s leading malting business and a stand-alone Australian-focused grains business. The demerger would result in two independent ASX-listed companies; new GrainCorp focused on grains, oilseeds, pulses, edible oils and feeds and MaltCo, a global malting and craft brewing distribution business. According to GrainCorp, MaltCo…

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GrainCorp receives US$2.4b buyout offer from Long-Term Asset Partners

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AUSTRALIA – GrainCorp, Australia’s leading grain and commodities trading company has received a US$2.4 billion buyout offer from Long-Term Asset Partners Pty Ltd (LTAP). The indicative offer involves control of 100% of the shares in GrainCorp for cash consideration of US$10.42 per share. According to GrainCorp Board, the proposal is subject to a number of conditions and involves a complex financing structure with significant leverage comprising US$3.2 billion in acquisition facilities from Goldman Sachs and US$400 million from Westbourne Capital. The board looks to engage with LTAP regarding their proposal…

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GrainCorp profit falls 50% under prolonged drought in the eastern grain belt

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AUSTRALIA –  Australia’s largest grain handler, GrainCorp has said annual net profit fell 50% to US$51.37 million as a result of dry conditions that hit production in eastern Australia during the last cropping season. The company reported continued positive performance from the Malt business and strong contributions from Bulk Liquid Terminals and Grains’ international grain trading. Compared to last year when the group recorded US$102.5 million, the period was impacted by material reduction in grain production and consequent impact on throughput volumes and exports. While the company maintained its guidance…

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Australia’s GrainCorp opens branch in Ukraine

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UKRAINE – GrainCorp, the Australian grain and related commodities handler has opened a new company in Ukraine to provide its customers with agricultural raw materials, grains, seeds and animal feeds. In reference to data from the Ukrainian state registry, Reuters reported that the new firm, GrainCorp Ukraine Ltd, was registered on May 14 within the Ukrainian State registry. According to the report, the grain merchant had indicated earlier this year that it expected to be present in Ukraine for the 2018 new crop and that an initial asset-light Ukraine presence…

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