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CBH considers disbanding the cooperative
23 Nov 2004
Grain handling and marketing group CBH will propose to its 6,000 grower shareholders in Western Australia that they disband the cooperative structure. CBH chairman Robert Sewell said its annual survey of around 1,000 growers revealed that two thirds supported an alternative structure. CBH has projected capital expenditure of $1.2 billion over the next two decades, and wants to pursue a new strategic direction built around alliances with Asian food processors. Short term capital expenditure includes $250 million on its "primary site" storage network plan and a $100 million upgrade of the Albany grain export terminal. This would require an average capital contribution from each farmer of $50,000. The alternative is to seek outside capital.
West Australian, 23/11/04
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