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clock Created with Sketch. 26/04/16
20:59
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Originally posted by gofish100
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Australia’s largest dairy co-operative Murray Goulburn Co-operative Co. Limited (Murray Goulburn) has announced an Extraordinary General Meeting (EGM) to vote a new capital structure that will see the organisation seek approximately $500 million of capital. Murray Goulburn operates its dairy processing business under the leading Devondale brand. The EGM will be held in Melbourne on Friday, 8 May 2015. Murray Goulburn is Australia’s largest dairy foods company. In 2013/14 the company received approximately 3.4 billion litres or 37 per cent of Australia’s milk and generated sales revenue in excess of $2.9 billion. Murray Goulburn was formed in 1950 and remains 100 per cent dairy farmer controlled, with more than 2,500 farmer/shareholders and more than 2,400 employees.
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The question that should be asked, what's changed from the last down turn (2009)? Debt, CEO, focus on cost per tonne. When interest rates trend up, this company is on toast, no wonder why the bankers are getting nervous.
