14 January 2014
CBH Group managing director Andrew Crane has declared the West Australian grains handler will remain as a co-operative, dismissing suggestions Archer Daniels Midland’s (ADM) failed $3 billion bid for GrainCorp had increased appetite among its grower owners to privatise the company.
ADM’s failed bid for GrainCorp has highlighted the extraordinary value in agricultural supply chain assets and triggered fresh calls by analysts and Western Australia’s Pastoralists and Graziers Association to float the business. This could unlock more than $4 billion for cash strapped farmers.
Dr Crane said, however, the majority of CBH’s 4300 grower owners were committed to its co-operative structure, which was last tested in 2010 when growers supporting corporatisation unsuccessfully tried to gain a foothold on the CBH board.
“If anything, our employees, our board and our growers are hugging the business even tighter than they ever have.
Source: The Land, CBH will stay a co-op: Crane, Jan 6
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