GrainCorp

{{Short description|Australian public company}}

{{Use dmy dates|date=June 2018}}

{{Use Australian English|date=June 2018}}

{{Infobox company

| name = GrainCorp Limited

| logo = GrainCorp logo.png

| former_name = Grain Elevators Board
Government Grain Elevator

| type = Public

| traded_as = {{asx|GNC}}

| founded = 1917

| founder = Government of New South Wales

| location = 175 Liverpool Street, Sydney, Australia

| key_people = Peter Richards (Chairman)
Robert Spurway (Managing Director and CEO)

| num_employees =

| industry = Agriculture

| services = Grain storage, handling and marketing

| revenue = $4.9 billion (2019)

| net_income =

| homepage = [http://www.graincorp.com.au www.graincorp.com.au]

}}

File:Portland Dec 2019.jpg

File:GrainCorp site at Moree, NSW.jpg

GrainCorp Limited is an Australian commodity trading company listed on the Australian Securities Exchange. The company's core business is the receiving and storage of grain and related commodities. It also provides logistics and markets these commodities.

The company was founded by the Government of New South Wales as a 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 the Australian Securities Exchange in March 1998.[https://trove.nla.gov.au/newspaper/article/129095706 NSW GrainCorp goes up for sale] Canberra Times 12 February 1991 page 11[https://web.archive.org/web/20200409204012/https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=3886&announcementId=332817&documentDate=1998-03-30&documentNumber=157320 Graincorp press release re ASX official listing] GrainCorp 30 March 1998

GrainCorp's operations have subsequently extended into other Australian states by amalgamations with other grain handling operations. In July 2000 it merged with its Victorian equivalent, Vicgrain.[https://web.archive.org/web/20200409204504/https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=text&issuerId=3886&announcementId=193989&documentDate=2000-07-28&documentNumber=213857 Growers Approve Graincorp and VicGrain Merger] GrainCorp 28 July 2000[https://trove.nla.gov.au/newspaper/article/257167825 GrainCorp AGM] Riverine Herald 26 February 2001 page 4{{Victorian Rail-Newsrail|title=Vicgrain becomes GrainCorp|month=6|year=2001|page=70}} The company operates an extensive network of rail-linked storages across south-east Australia, as well as seven export terminals in Brisbane, Geelong, Gladstone, Mackay, Newcastle, Port Kembla and Portland.

In November 2009 GrainCorp expanded into North America through the purchase of the United Malt Holdings group of companies.[https://web.archive.org/web/20100127001556/http://www.businessweek.com/investor/content/nov2009/pi20091113_685259.htm How One Private Equity Firm Beat The Odds] Bloomberg Businessweek 13 November 2009 In July 2011, GrainCorp agreed to buy maltster GermanMalt GmbH & Co, extending its reach into Europe.[http://www.smh.com.au/business/graincorp-buys-germanmalt-for-77m-20110725-1hvyq.html GrainCorp buys GermanMalt for $77m] {{Webarchive|url=https://web.archive.org/web/20121108094721/http://www.smh.com.au/business/graincorp-buys-germanmalt-for-77m-20110725-1hvyq.html |date=8 November 2012 }} ''Sydney Morning Herald 25 July 2011

Having purchased a 20% stake in the company, in 2013 Archer Daniels Midland launched a take over offer.[https://web.archive.org/web/20200409201215/https://www.adm.com/news/news-releases/adm-to-acquire-graincorp ADM to Acquire GrainCorp] Archer Daniels Midland 1 May 2013 Although cleared by the Australian Competition & Consumer Commission, the bid was disallowed by Federal Treasurer Joe Hockey, citing that it would not be in Australia's national interest.[https://web.archive.org/web/20140221120203/https://www.accc.gov.au/media-release/accc-to-not-oppose-archer-daniels-midland-acquisition-of-graincorp ACCC to not oppose Archer Daniels Midland acquisition of Graincorp] Australian Competition & Consumer Commission 27 June 2013{{cite news|title=GrainCorp takeover by US company Archer Daniels Midland rejected by Federal Government|url=http://www.abc.net.au/news/2013-11-29/federal-government-rejects-foreign-takeover-of-graincorp/5124262|access-date=29 November 2013|date=29 November 2013|agency=ABC News|archive-date=29 November 2013|archive-url=https://web.archive.org/web/20131129054840/http://www.abc.net.au/news/2013-11-29/federal-government-rejects-foreign-takeover-of-graincorp/5124262|url-status=live}}[https://www.bbc.com/news/business-25134103 GrainCorp: Australia blocks takeover bid from ADM] {{Webarchive|url=https://web.archive.org/web/20190410055641/https://www.bbc.com/news/business-25134103 |date=10 April 2019 }} BBC News 29 November 2013

In May 2009, eighteen 48 class locomotives and 180 grain wagons were transferred by the Government of New South Wales at no cost. They continued to be operated by Pacific National.[https://web.archive.org/web/20200410203431/https://www.asx.com.au/asxpdf/20090529/pdf/31hv3mrls3llnq.pdf GrainCorp Welcomes State Government Broadacre Train Decision] GrainCorp 29 May 2009First Refurbished 48 class locomotive enters service for GrainCorp Australian Railways Illustrated issue 2 June 2010 page 8 In Queensland, services are contracted out to Watco Australia.[https://web.archive.org/web/20190301205732/https://www.railjournal.com/regions/australia-nz/watco-expands-australian-rail-freight-operations/ Watco expands Australian rail freight operations] International Railway Journal 3 July 2018

In 2015 GrainCorp formed a strategic joint venture with major Japanese agricultural cooperative, Zen-Noh Grain Corporation, to create GrainsConnect Canada – a highly-efficient grain supply chain that is connecting the growers of Western Canada to the world. https://www.grainsconnect.com/graincorp.php