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Australian Fertilizer Partnership
SYDNEY - Dec 8/04 - SNS -- The Australian wheat board, AWB Limited (AWB), Elders (a wholly owned subsidiary of Futuris Corporation Limited) and WMC Resources Limited (WMC) have established a joint venture fertilizer company.
Called ELF Australia Pty Ltd (ELF Australia), it will be formed by Landmark (an AWB Company) and Elders, to acquire a 66.66% share of WMC's wholly owned subsidiary company, Hi-Fert Pty Ltd (Hi-Fert). This means that Landmark, Elders and WMC will each have one-third equity in Hi- Fert.
It is intended that ELF Australia will negotiate the purchase of fertilizer for the Landmark and Elders rural retail distribution outlets in the eastern and southern states of Australia. ELF Australia will source fertiliser from Hi-Fert and other suppliers.
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