E-Malt.com News article: 3675

Australia: Japanese trading house Sumitomo will make an ideal partner in eastern states grain handling business, Australian Bulk Alliance, ABB Grain Ltd, the parent of founding joint venture partner AusBulk Ltd, revealed on November 17.

ABB Grain managing director, Michael Iwaniw, said ABB (which acquired its stake in ABA following the merger with AusBulk in September) was looking forward to working with Sumitomo to develop the business. "One of the intentions of the merger with AusBulk was to put the organisation in a position to expand our business, now that Sumitomo is onboard, with the acquisition of GrainCorp’s stake in ABA, we will be able to look more closely at ABA’s operations.”

Mr Iwaniw said AusBulk, through its Joe White Maltings subsidiary, had enjoyed a long and successful relationship with Sumitomo, and he expected ABB Grain would be able to build on that history. “ABA has been successful in growing its business in the eastern states, since its inception in 1999, with grain receival sites at ABA at Goolgowi, Coolamon, The Rock, Tocumwal, Woorinen, Nullawill and Tatyoon as well as the export terminal in Melbourne.

“Sumitomo has a wealth of experience in the grain industry, which we expect will be invaluable in building the ABA business which we believe has outstanding potential,” Mr Iwaniw said.


21 November, 2004