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INTERGRAIN FOCUS ON FUTURE
InterGrain is in a strong position to build on its success in cereal breeding for the Australian grains industry through the development of superior wheat and barley varieties.
With seeding for 2017 well under way across Australia, InterGrain chief executive officer Tress Walmsley has reaffirmed the Company’s long-term commitment to grain growers and commercial partners.
The Company has a solid foundation for growth following two consecutive years of high grain production in Australia and a reduction in operating costs.
InterGrain’s shareholders, the Western Australian Agriculture Authority and the Grains Research and Development Corporation, recently ceased negotiations with Australian Grain Technologies Pty Ltd on the acquisition of InterGrain.
The shareholders’ decision reflects confidence in the varieties under development at InterGrain and the Company’s capacity to add value in the Australian cereals breeding market.
Ms Walmsley welcomed the shareholders’ endorsement of the ongoing work at InterGrain and the opportunity to reposition the business to deliver value to Australian grain growers.
“The dedicated team at InterGrain is in a good position to deliver new and improved varieties for growers well into the future,” Ms Walmsley said.
“We are excited about the success of our market-leading barley varieties and the potential of our emerging wheat varieties to ultimately create better returns for growers.” InterGrain’s La Trobe and Spartacus CL make up the lion’s share of barley grown in Australia and the Company is committed to building on its dominant position in barley breeding.
InterGrain is increasing its competitiveness in wheat breeding with the release of new varieties and has other highly promising material in the pipeline. Chief CL Plus (APW) and Ninja (ANW) were released in September 2016 with seed stock sold out for 2017.
The Udon noodle market is dominated by InterGrain’s recent releases (Ninja, Supreme and Zen). The Company is Australia’s only active breeder of Udon wheat and is working closely with end users to further meet the taste requirements of its customers.
“In recent times, we have seen some of the team’s hard work start to pay off. The outlook is positive and we look forward to the challenge of achieving more breeding breakthroughs and value the support of the shareholders in the next phase for the business.”
Contact: Brad Thompson p: 0405 044 015 // e: email@example.com
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