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Landmark joins AWB Limited
Wesfarmers Limited and AWB Limited today announced that Wesfarmers Landmark, one of Australia's leading rural services companies, has been acquired by AWB Limited. Now trading as “Landmark – an AWB company”, the well recognised rural services business will continue its activities across the spectrum of Australia's rural industries: wool marketing, livestock marketing, the provision of inputs to the livestock and crop production industries, agronomy, finance, insurance and real estate.
Landmark joins the AWB group in creating Australia's leading agribusiness, predominantly owned by farmers and focused solely on the growth and development of our primary industries.
Landmark Managing Director, Mark Allison, said that joining the AWB group was a very positive move for Australian agriculture and the Landmark business.
“There are significant opportunities for the development of Australia's rural industries as a result of today's announcement. The transaction brings together two strong agribusinesses. Landmark has great experience and knowledge of Australian agriculture. AWB is a major commodity exporter, with strength and experience in international markets, as well as established relationships with Australian wheat growers.
Landmark provides the capability for AWB to diversify its earnings base in the rural sector with a business that can provide a steady revenue stream, an expanded network and a platform for growth. AWB was attracted to Landmark because of its network throughout rural Australia, its strong profit performance and its range of business activities. With Landmark as part of its portfolio, AWB will achieve diversity and reduce the cyclicality of its earnings, while maintaining a focus on its own core activities in the grain industry.
“Landmark will operate as a wholly-owned subsidiary of AWB Limited, with no change to the current management team or organisational structure.
“For our customers, suppliers and other stakeholders, it is ‘business as usual'.”
Mr Allison said Landmark was excited to be part of this major diversified Australian agribusiness and looked forward to continuing to serve Australian primary producers as part of the AWB group.
Further information;
David Coombes
General Manager – Marketing
Landmark
Phone: (02) 9335 6282 / 0408 462 514
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