GrainCorp di­ver­si­fies

Townsville Bulletin - - Investor -

Ali­son Watkins GRAINS mar­keter GrainCorp Ltd has agreed to buy all shares in malt house op­er­a­tor Kirin Aus­tralia Pty Ltd from Ja­pan’s Kirin Brew­ery Com­pany Ltd for $ 10.55 mil­lion. ‘‘ The Kirin Aus­tralia malt house is in an ideal lo­ca­tion for sup­ply­ing malt into the ex­pand­ing South East Asian bev­er­age mar­ket, so hav­ing a pro­duc­tion base in WA is an im­por­tant diver­si­fi­ca­tion step for GrainCorp Malt,’’ GrainCorp man­ag­ing di­rec­tor Ali­son Watkins said. ‘‘ GrainCorp will also gain ac­cess to va­ri­eties of bar­ley grown in WA that are not read­ily avail­able to us in the east.’’

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