ABB Grain

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ABB Grain Limited
Company type Public
ASX:  ABB
Industry Agribusiness
Founded1939
Defunct2009
Headquarters Adelaide, Australia
Key people
Perry Gunner (Chairman)
Michael Iwaniw (Managing Director)
ProductsGrain, malt, wool, fertiliser, chemicals, storage and handling services
Revenue$2.2 billion (2008)
$49 million (2008)
Number of employees
1,100 (2008)
Website www.abb.com.au

ABB Grain was Australia's largest agribusiness. Founded in 1939, the company was listed on the Australian Securities Exchange until its takeover by Viterra in 2009. For most of its history, the company focused solely on grain accumulation and marketing, but it eventually expanded its focus to other activities, such as grain receival and storage, malting and fertilisers.[ citation needed ] The company, which traded in all grain commodities, bought grain from all growing regions in Australia.[ citation needed ]

Contents

History

ABB traced its origins to the former Australian Barley Board. Due to the company's expanded operations into different areas, it demutualised to become ABB Grain on 1 July 1999. [1] In 2004, the company merged with the South Australian storage and handling company AusBulk and United Grower Holdings. This brought about the control of the two major grain handlers, along with several of AusBulk's divisions. [2] [3] [4]

After its merger with AusBulk, ABB's supply chain involved operations in storage and handling and logistics, including a significant network of silos and export shipping terminals in South Australia and the eastern states of Australia, and incorporating joint ownership of Australian Bulk Alliance, or ABA, with Japanese trading company Sumitomo.

The company also provided rural services including fertiliser and agrichemical supply and wool and livestock activities. The latter were supported by the acquisitions of the Adelaide Wool Company, Wardle Co and Stawool in 2007.

ABB had significant operations in New Zealand focused on the trading and distribution of grains and proteins. In 2007, the company established a joint venture in Ukraine with French malting company Soufflet to accumulate grain, manage supply chain activities and market grain. [5]

In April 2009, Viterra launched a takeover offer. [6] Combined, the two companies together were responsible for 37 per cent of the world's exports of wheat, canola and barley. [7] [8] [9] Shareholders approved the merger on 9 September. [10] ABB was delisted from the Australian Securities Exchange on 25 September 2009. [11]

References

  1. ↑ Foreign Countries' Policies and Programs Foreign Agricultural Service 13 November 2003
  2. ↑ "Shareholders". National Growers Register. Archived from the original on 19 July 2008. Retrieved 10 May 2008.
  3. ↑ "ABB Grain, AusBulk board named". The Age . 7 June 2004. Retrieved 30 April 2008.
  4. ↑ "AusBulk/ ABB to merge". Bulk Materials International. May 2004. Archived from the original on 9 June 2009. Retrieved 20 May 2009.
  5. ↑ Daw, Michelle (21 August 2007). "ABB Grain expands to Ukraine". ABC Rural. Archived from the original on 12 June 2009. Retrieved 20 May 2009.
  6. ↑ ABB receives conditional non-binding approach from Viterra ABB Grain 28 April 2009
  7. ↑ Johnstone, Bruce (19 May 2009). "Viterra announces $1.4B deal to acquire Australian company". Regina Leader-Post . Archived from the original on 9 June 2009. Retrieved 20 May 2009.
  8. ↑ Viterra to take over ABB Grain for $1.6bn Lloyd's List DCN 20 May 2009
  9. ↑ "ABB Grain and Viterra Announce Agreement to Combine Operations" (PDF). (54.1  KiB)ABB Grain, 19 May 2009. Retrieved on 20 May 2009.
  10. ↑ Thompson, Paula (9 September 2009). "ABB merger with Viterra gets go ahead". Stock Journal. Archived from the original on 14 September 2009. Retrieved 9 September 2009.
  11. ↑ ABB Grain Limited: Removal from Official List Australian Securities Exchange 25 September 2009
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