Posts Tagged ‘Farming’

ASX Company New: AAC Sells Meteor Downs For $21.6 million

Saturday, July 23rd, 2011

Australian Agricultural Company Limited (AAC) announces it has entered into a binding agreement to sell the Meteor Downs Station, bare of cattle and plant, to Xstrata Coal Queensland Pty Ltd for $21.6 million cash. The Meteor Downs property is located near Emerald in central Queensland. AAco currently operates the property for breeding and genetic improvement. AAco will transfer activities currently at Meteor Downs to alternative properties.

AAco Managing Director and CEO David Farley said the sale offered compelling value for Aaco shareholders: “The price agreed with Xstrata Coal is well in excess of the book value of the Meteor Downs property and represents exceptional value for AAco shareholders. It underlines the strength and core value of the property holdings and supports the balance sheet of the Company. “The sale of Meteor Downs is part of a process of realigning AAco’s property holdings to reflect the ongoing business strategy. Meteor Downs had become a non-core asset. Capital released from the sale of Meteor Downs will be redeployed into other areas of the business, including increasing grazing land to support our northern trading operations and the beef processing facility we are planning in Darwin.

Australian Agricultural Company Limited (AAC) – is the largest beef cattle company in Australia. AAco was established in 1824 and is the oldest continuously operating company in Australia during the period.

www.aaco.com.au

http://www.traderdealer.com.au/fundamentals/aac

Post to Twitter

Tags: , , ,
Posted in ASX Company News | No Comments

ASX Company News: Australian Agricultural Co Acquires 53,000 Cattle

Tuesday, March 29th, 2011

Australian Agricultural Company Limited (AAC) announced it has agreed to purchase approximately 53,000 head of branded cattle from the Tipperary Group (TG), which is owned by interests associated with Mr Allan Myers and family. The total consideration of $26.08 million will be paid in two instalments, the final payment upon completion of the first round Bang Tail Muster. As part of the transaction AAco has also entered into a one year agistment agreement to use the stations owned by TG, Tipperary and Litchfield stations, with options to extend, if necessary. The transaction is expected to settle on or about 31 March 2011 subject to the satisfaction of conditions subsequent.

The herd to be acquired includes mixed age, high quality, high grade Brahman cattle, with a mix of cows, heifers, steers and bulls, and with calves given in.

AAco Managing Director/CEO David Farley said the agreement was a compelling commercial opportunity for the Company to continue expanding its herd and northern Australian operations: “This is a substantial cattle purchase for AAco and will allow the Company to take advantage of the good seasonal conditions available, with an expanded total herd of more than 640,000 head before the 2011 calf brandings. “The cattle are located close to Darwin, which is the main shipping point for live cattle exports into South East Asia. A portion of the cattle will also be available to support the planned meat processing facility throughput, which is proposed to be developed within the Darwin region, supporting a key initiative for our global boxed beef business”. able, the price per head is commercially sensible, especially given the current global price of beef, and strengthening national cattle markets, Mr Farley said.

AAco has also recently formed several other agistment agreements to graze cattle on properties across northern Australia, maximising the immediate return on the Company’s working capital, through weight gain and calf production. Australian Agricultural Company Limited (AAC) – is the largest beef cattle company in Australia.

www.aaco.com.au

http://www.traderdealer.com.au/Fundamentals/aac

Post to Twitter

Tags: , , , ,
Posted in ASX Company News | No Comments

ASX Company News: Lindsay Australia To Acquire CLC Produce

Friday, February 11th, 2011

Lindsay Australia (LAU) has entered into a contract to purchase the business and some of the assets of CLC Produce Pty Ltd based in Mareeba on the Atherton Tableland in North Queensland.

CLC Produce has a turnover of approximately $6.5 million per annum the majority of which is south bound produce freight. The purchase price is $770,000 consisting of $425,000 for Leasehold Land & Buildings and $345,000 for Plant and Machinery (including cold rooms).

CLC Produce will also be engaged as a consultant for a period of 3 years to assist in marketing, customer transition and expanding the customer base. The fee payable is $ 150,000 per annum.  The acquisition of CLC Produce allows the expansion into a strategically important North Queensland produce growing area.

www.lindsayaustralia.com.au

http://www.traderdealer.com.au/Fundamentals/lau

Post to Twitter

Tags: , , , ,
Posted in ASX Company News | No Comments

Ruralco Holdings Acquires Agfarm and Archards Irrigation

Monday, October 26th, 2009

Ruralco Holdings Limited (RHL) is pleased to announce the continued expansion of its national platform to service rural Australia following the acquisition of a 51% equity interest in the grain marketing business, Agfarm Pty Ltd, and a 51% equity interest in the water solutions and irrigation business, Archards Irrigation Pty Ltd.

Ruralco’s Managing Director, John Maher said this expansion continues the company’s strategy of developing its business reach both geographically and by sector. Grain marketing and integrated water solutions are emerging, high growth sectors that have a strong future in Australian agriculture and it’s exciting to announce our involvement in them on a national scale. “These businesses will integrate well into our existing network and generate significant growth opportunities across the Group,” Mr. Maher said.

Archards specialises in providing a complete water related supply solution for rural producers, from conception and design, through to the on-site installation, construction and commissioning of the project. Archards’ range of services includes supplying polyethylene pipe and fittings, pipeline construction, farm survey and design, polyethylene fabrication, irrigation systems and water trading. The business is based at Cohuna in northern Victoria and operates nationally. Ruralco  Holdings  Limited  (RHL)  is  a  leading  Australian  agribusiness.  Ruralco  operates  through  a  national footprint  of  businesses  that  specialise  in  providing  rural  customers  with  products  and  services  in  merchandise, fertiliser,  seed,  wool,  livestock,  real  estate,  stock  feed,  risk  management,  water,  grain,  finance  and  insurance. Ruralco’s businesses around the country operate under their own brands. They have their own cultures, their own service models and their own unique value propositions — all designed to meet the demands of local or regional markets.

www.ruralco.com.au

Post to Twitter

Tags: , , , ,
Posted in ASX Company News | No Comments