CBH eyes eastern grain links

16 December 2013

CBH chief executive Andy Crane has left the door open for the WA co-operative to play a major role in the future of GrainCorp, subject to any deal meeting key investment criteria.

Dr Crane refused to rule out joint venture opportunities in relation to GrainCorp, which faces an uncertain future after the Federal Government blocked a $3.4 billion takeover bid from US-based Archer Daniels Midland.

He also rejected claims that CBH’s co-operative structure was a barrier to joint ventures.

CBH has a virtual monopoly on grain storage and handling in WA – including port facilities at Esperance, Albany, Kwinana and Geraldton – but faces competition from Bunge, Chinese interests and other global heavyweight from next year.

Some insiders see CBH as key to any politically acceptable deal to secure GrainCorp, which handles 85 per cent of the east coast grain exports and controls seven of 10 grain ports.

Read the full story, CBH eyes eatern grain links, The West Australian, 14 Dec