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Namoi Cotton Co Operative Ltd announces buys-out Hillston Gin Joint Venture Partner

Tuesday, 3 Jun 2014 10:39pm EDT 

Namoi Cotton Co Operative Ltd:Confirm it has completed the acquisition from Twynam Cotton Pty Ltd and Twynam Pastoral Co Pty Ltd of the remaining 50 pct interest in the Australian Cotton Ginning Company (ACGC), located just outside Hillston, NSW.Post settlement, Twynam have committed for an extended period to have their seed cotton production from this region ginned at Namoi Cotton’s Hillston ginning facility.Acquisition will be financed through a three year term debt facility, to be provided by Commonwealth Bank of Australia.ACGC had been owned in a 50-50 joint venture agreement between Namoi Cotton and Twynam. 

Company Quote

-0.0050 -1.67%
24 Dec 2014