Feb. 06, 2014
Sumitomo Australia Pty Ltd
Sumitomo Corporation Obtained 100% share of Emerald Grain Pty Ltd
Sumitomo Corporation (Head Office : Chuo-ku, Tokyo; President and CEO : Kuniharu Nakamura) and Sumitomo Australia Pty Ltd (Head Office : Sydney, Australia; President and CEO : Rei Ito) (These two companies, hereinafter “Sumitomo Group”) has today acquired Emerald Agribusiness Group Pty Ltd (Head Office : Melbourne, Australia, hereinafter “EAG”) which owns 50% of Emerald Grain Pty Ltd (Head Office : Melbourne, Australia; Chairman : Alan Winney, hereinafter “Emerald Grain”).
Prior to the transaction, the Sumitomo Group held an existing 50% interest in Emerald Grain. This acquisition will see Emerald Grain, which accumulates and trades Australian grain, operates upcountry grain storage facilities and a grain export terminal at Melbourne Port Terminal, become a wholly owned subsidiary of the Sumitomo Group.
As a wholly owned subsidiary of the Sumitomo Group, Emerald Grain will have access to Sumitomo’s global network, allowing Emerald Grain to expand its operations and accelerate the growth of its grain value-chain in Australia.
Through Emerald Grain, the Sumitomo Group plans to expand its grain business globally as the industry moves through a period of rapid and intense change.
|Main Business||Grain accumulation, trading and marketing
Grain storage (13 upcountry sites mainly in Victoria and southern New South Wales) and port operations at Melbourne Port Terminal
|Revenue||Approximately AUD 1.6 billion|
(Before this transaction) EAG 50% and Sumitomo Group 50%
(After this transaction) Sumitomo Group 100%
|Grain Accumulation Area||Australia wide|
|Grain accumulation||Approximately 4.5 million tonnes|
|Storage Capacity||Approximately 1.4 million tonnes|
|Annual Export Capacity from Melbourne Port Terminaｌ||Approximately 2.0 million tonnes|