Wesfarmers

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Wesfarmers (ASX: WES) is one of Australia’s largest public companies, and it is headquartered in Perth, Western Australia.

[edit] History

The company was founded on 27 June 1914 as a Western Australian farmers’ co-operative which determined its early focus to be on the provision of services and merchandise to the rural community.

The company was tied in with considerable numbers of projects relative to the culture and well-being of the whole Western Australian community. In 1924 it was the founder of radio in Western Australia with the commencement of the radio station 6WF - and although it passed into the hands of the ABC by 1929, the company had shown support for initiative in new technology for the benefit of the rural community.

By the 1940s Westralian Farmers Ltd work included being wheat and general merchants; country distribution for Commonwealth Oil Refineries Ltd; wool, live stock, skin and produce auctioneers; grain & fruit exporters; insurance underwriters; acquiring agents for the wheat pool of W.A.

Known as Westralian Farmers Limited it has had premises in various locations within the Perth Central Business District. In the 1940s there were premises at 563-571 Wellington Street. They also had premises at Newman Street in Fremantle.

In 1991 19 metres of the records of the Westralian Farmers Co-operative were deposited with the Battye Library in Perth.

[edit] Recent activity

In the late twentieth century the name was changed to Wesfarmers Limited - and the company diversified, broadening its business and geographical base.

It was publicly listed on the Australian Stock Exchange in 1985.

Wesfarmers are the owners of Bunnings Warehouse, Australia's largest hardware chain. Other companies included under the Wesfarmers group include: Protector Alsafe, Blackwoods [J. Blackwoods & Son] and Atkins Carlyle.

Official records announced a record net profit of $1.05 billion for the year 2006 including their operating costs which amounted to $8.9 billion.

The company's CEO is currently Richard Goyder.