GrainCorp (GNC)

Shares / Stock Code

GNC

Stock Exchange / Sharemarket

ax

GrainCorp (GNC) is a diversified agribusiness enterprise providing services mainly to the grain industry. Its key business activities incorporate the storage, handling and collecting of grain and other bulk commodities. The Company is providing these services through its in excess of 250 grain accumulation sites for growers in Queensland, NSW and Victoria. GNC markets grain, meals and other bulk commodities and operates grain pools. Its other services comprise road and rail transport services for bulk commodities and provision of farm input products and financial services. GrainCorp is also providing flour milling and mixing services through its investment in Allied Mills, which is the largest flour miller in Australia. GNC is the key supplier of grains to Allied Mills. GrainCorp listed on the Australian Stock Exchange on March 30, 1998. It operates nine port terminals for the export and import of grain and bulk commodities from Mackay (Queensland) to Portland (Victoria).

GrainCorp expanded its business operations through acquisitions. In 2001, it completed the acquisition of Vicgrain and acquired 60% interest in flour miller Allied Mills and Cargill from Goodman Fielder in 2002. On 1 October 2003, GrainCorp merged with Queensland-based Grainco, which not only increased the grain-handling capacity of GNC by approximately 20%, but also increased the scale of its growing grain-trading operations. On November 30, 2007, GrainCorp Operations Limited which is the 100% controlled entity of GNC completed the acquisition of Hunter Grain Pty Limited.

The Company aims to become a leading handler and supplier of agriproducts and bulk products in Australia.

GrainCorp History

The Company’s history can be traced back to 1918 when Government Grain Elevator was formed. It became a statutory authority in the mid 1950s, with corporatisation completed in 1989. The Company made its debut on the Australian Stock Exchange in March 1998. In December 1999, it formed a merger with Vicgrain and Victorian Grain Services Ltd. In May 2002, GNC and Grainco Aust. entered into a new 50/50 port facilities Joint Venture, known as Bulk Terminals Australia Ltd. In 2002, GNC acquired a 60% interest in Allied Mills in a Joint Venture with Cargill Aust. GrainCorp completed the acquisition of Grainco in October 2003.