GrainCorp

GrainCorp Limited is a public company listed on the Australian Securities Exchange (ASX) in Australia. The company's core business is the receival and storage of grain and related commodities. It also provides logistics and markets these commodities. As of 2015, the company's chief executive is Mark Palmquist and its chairman, Don Taylor.^[1]

The company was founded as a New South Wales public sector agency, Government Grain Elevator (later the Grain Elevators Board), in 1917. It was formed to transport grain from local collection points located on railways throughout the grain-producing regions of New South Wales. It was later known as the Grain Handling Authority. It was privatised in 1992 with a majority of shares being transferred to grain growers, and listed on ASX in 1998.

GrainCorp's operations have subsequently extended into other Australian states by amalgamations with other grain handling operations. The company operates an extensive network of rail-linked storages across south-east Australia, as well as seven strategically located export terminals in Brisbane, Gladstone, Mackay, Newcastle, Port Kembla, Geelong and Portland, Victoria.

In November 2009 Graincorp expanded into North America through the purchase of the United Malt Holdings group of companies.^[2] In July 2011, Graincorp agreed to buy maltster GermanMalt GmbH & Co for $77 million, extending its reach into Europe.^[3] As of 2012, the company was receiving acquisition bids from Archer Daniels Midland.^[1]

In April 2013, the Archer Daniels Midland bid was considered by the GrainCorp Board.^[4][5] The bid was disallowed by Federal Treasurer Joe Hockey on the 29th of November, 2013, citing that it "would not be in our national interest".^[6]

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