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Agribusiness

Feds knock back WA irrigation projects

UPDATED: The federal government has declined to provide co-funding for two irrigation projects in Western Australia’s South West that were expected to trigger a total investment of $460 million and create 1,500 jobs, after an expert panel found the WA government did not fully address the assessment criteria.

Quintis investor holds off plantation sale

An investor has chosen not to sell a parcel of plantations to troubled sandalwood producer Quintis, with the first deadline to exercise the option having expired.

Wilson to lead CBH

CBH Group has announced a surprise selection as its new chief executive, recruiting former BHP iron ore boss Jimmy Wilson to succeed Andrew Crane.

Mareterram targets growth through acquisition

Fremantle-based seafood producer Mareterram has examined more than 30 potential acquisition opportunities in the past couple of years as it seeks to grow into a larger diversified business focused on protein.

Co-op to share Nannup truffles

A new share-farming initiative is being established in the state’s South West, giving the public the opportunity to stake a patch in the exclusive and expensive truffles market.

Wellard tumbles on loss expectations

Shares in Wellard have hit an all-time low after the live cattle exporter flagged a disappointing end-of-year result.

Wilson owes $11m: Quintis

Troubled Perth company Quintis plans to take legal action against its founder and former managing director over claims he has failed to meet repayment obligations on an $11 million loan.

Local opportunity in premium products

Olive oil, chocolate, avocados, marron and cider are among a number of Western Australian products that are ideal for local industry to target as premium markets, according to a report commissioned by the Department of Agriculture and food released Thursday night.

CBH opens malt facility in Vietnam

Grain handling cooperative CBH Group’s partially owned subsidiary, Interflour, has officially opened a new malt production facility in Vietnam, which it said would give Western Australian farmers better access to the Asian nation’s beer market.

Atlas Pearls in debt deal with Martin

Aquacuture firm Atlas Pearls and Perfumes has locked in two debt facility agreements for a total of $3 million, one of which is with its director, Tim Martin.

Quintis seeks more time to do deals

Embattled sandalwood producer Quintis has once again requested its share trade suspension be extended while it continues to negotiate transactions it says are critical to its solvency.

WA wheat set for processing in Philippines

Interflour Group, which is half-owned by CBH Group, has today shipped the first load of wheat from Kwinana to its new Mabuhay mill in the Philippines.

Quintis suffers another ratings downgrade

Quintis has suffered its fourth credit ratings downgrade within a month, after the troubled Indian sandalwood producer on Tuesday revealed more operational and financial issues.

Quintis problems deepen

Sandalwood producer Quintis has revealed more operational and financial pain, with the embattled Perth company suspending plantation sales, lowering forecast product sales and admitting a $27 million investment would not proceed.

Seafarms raises $10m as Trahar invests

Ian Trahar has taken a larger stake in his listed agribusiness Seafarms Group while the Perth business taps investors for $10 million.

$2bn investment on fertile ground

An upgrade to a meat processing plant at Katanning, a chicken feed mill in Muchea, a new piggery at Moora and a live lobster holding facility in Welshpool are the latest in a string of investments that will boost the agribusiness sector in Western Australia.

Wellard sells livestock ship to Israeli firm

Live cattle exporter Wellard has announced the sale of one of its mid-sized ships to Israeli company Dabbah Slaughterhouse for $US26 million ($A35 million).

S&P downgrades Quintis rating

Global ratings agency S&P has cut its credit rating for Quintis for the second time this month and kept the troubled Indian sandalwood producer on credit watch with negative implications, suggesting another downgrade is possible.

Quintis extends suspension by a week

Troubled sandalwood producer Quintis has extended its ASX suspension by a week to review its operations and update its earnings guidance.

Wellard eyes Chinese expansion

Fremantle-based livestock exporter Wellard has appointed Chinese businessman Kanda Lu as an executive director in an effort to boost the company's expansion into China's beef cattle market. 

Optimism for WA farmers

Western Australian farmers are among the most optimistic in the nation, according to the annual Commonwealth Bank of Australia Agi Insights report to be released today, with 39 per cent likely to be investing in their businesses in the year ahead.

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