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Agribusiness

Heytesbury takes Wellard stake

The investment vehicle of Pakistani meat producer Tariq Butt has sold its remaining 9.5 per cent stake in Wellard to private company Heytesbury, at a premium to the listed agribusiness’s recent trading price.

Rinehart business to become state’s largest

Hancock Prospecting is poised to become Western Australia's biggest private company after a investment and acquisition spree in iron ore and agribusiness which is expected some time this year to push its revenue past that of the incumbent number one for the past 12 years, home builder BGC. A 2018 reranking appears certain following research for the Business News Private Companies list published today in a special report.

Roto-Gro up on ASX debut

Canadian hydroponics technology company Roto-Gro International has closed its first day of trading on the ASX, after completing a $3.6 million initial public offering managed by Perth-based Barclay Wells.

Historic Dingo Flour mill gets new owner

The iconic Dingo Flour mill in North Fremantle is coming under new ownership after Graincorp and Cargill Australia agreed to sell their Allied Mills Australia joint venture to private equity group Pacific Equity Partners.

Harvesting opportunity

An empty block cum ecological oasis in East Perth is providing opportunities for Perth's unemployed by meeting the demand for fresh produce.

Frost damage prompts insurance offering for grain growers

A local insurance broker and a data analytics specialist have teamed up to offer grain growers the same kind of cover as energy companies and construction projects.

Curtin facility grows grain research

A new agriculture research centre at Curtin University plans to tackle the $1.5 billion economic impact of crop disease in Australia. 

$37m for SW water project

The state government has committed $37 million to an ambitious desalination and irrigation project in the South West that is led by Perth business executive Peter Fogarty and will cost an estimated $380 million.

CBH lifts surplus to $110m

Grain handler CBH Group has shaken off a soft performance in its downstream Interflour businesses to report a 10 per cent increase in its surplus to $110 million for the year to October, after 13.6 million tonnes were transported through its network.

Wellard working on breached covenants

Livestock exporter Wellard has confirmed it has again breached banking covenants, and expects a loss for the first half of the 2017 financial year.

Agribusinesses beef up numbers

A period of strong cattle prices has boosted Western Australia’s largest pastoral companies, with the state’s four biggest cattle-focused plays increasing revenue about 9 per cent to $1 billion in their most recent annual reports.

Asic has partial win over WA director

The 12-year old scandal over the Australian Wheat Board’s payments to the government of Iraq has moved closer to final resolution, with its former chairman Trevor Flugge convicted today of breaching his duties as a director but cleared of more serious charges concerning his knowledge of the payments.

CBH members back cooperative structure

CBH Group will remain a non-distributing cooperative for the foreseeable future after a majority of its 4,100 members said they wanted to retain the current structure.

Private timber plays paying out for Japanese owners

Higher revenue from an improved woodchip market and a lower dollar has boosted profits at Albany Plantation Export Company, WA Plantation Resources and Bunbury Fibre Exports.

Cheung beefs up produce pipeline

A Singaporean businessman plans to advance the potential of WA’s $7 billion-plus agriculture export market.

Greens flip on backpacker tax

A particularly stressful week for farmers has come to a relieving end with the Greens today supporting the federal government’s proposed 15 per cent backpacker tax after voting against it yesterday.

Farmers furious at backpacker tax defeat

The federal government’s plan for a 15 per cent rate backpacker tax has been knocked down in the Senate, with the state’s farming body left furious and desperate for a solution.

Wellard shareholders vent displeasure

Shareholders in agribusiness Wellard have strongly rejected four resolutions at the company's annual meeting, though their anger over the company's poor performance was not enough for the nominee of a dissident shareholder to get elected to the board.

Farmers applaud 15% backpacker tax

The state’s agricultural body has welcomed the Commonwealth’s decision to reduce its planned backpacker tax to 15 per cent, less than half than what was originally proposed.

Abalone firm launches $5m fund campaign

Augusta seafood group Ocean Grown Abalone’s $5 million fund raising campaign is progressing under the stewardship of adviser View Street Partners, with the launch of its official offer document as the

Otoc, TFS set for rebranding

Perth company OTOC has joined TFS Corporation in receiving shareholder approval for a name change and rebranding, which both companies say will more accurately reflect their business models.

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