Grain storage and transportation
GrainCorp was founded in 1916, and was originally part of the NSW Government's Department of Agriculture. Privatised in 1992 and listed on the ASX in 1998. Merged with AWB in 2010 to compete with global agribusiness giants. The merged entity is now part of Cargill.
This company received an S&P Global ESG Score of 19/100 in the Food Products category of the 2019 SAM Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices. The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
[Source 2019][More on Sustainability Reporting]
This company is a member of the Australian chapter of the Sustainable Agriculture Initiative (SAI) Platform, the main food industry initiative supporting the development of sustainable agriculture worldwide. Created by Nestle, Unilever and Danone in 2002, the SAI Platform is a non-profit organization to facilitate sharing, at precompetitive level, of knowledge and initiatives to support the development and implementation of sustainable agriculture practices involving the different stakeholders of the food chain.
[Source 2019][More on Multi-Stakeholder Initiatives]
According to data released by the Australian Tax Office in Dec 2018, this company was one of 2,159 local and foreign-based companies that paid no tax in Australia in 2016-17. Please note however that companies pay income tax on profits, not revenue (total income). While some companies use tax havens and loopholes to avoid paying their fair share of tax in Australia, other companies that paid no tax have perfectly legitimate reasons.
[Source 2018][More on Finance]
|Company Structure||Public company|
|Address||Sydney, NSW, 2000, Australia|
Products / Brands
Hockey rejects ADM bid
29th Nov 2013 — TREASURER Joe Hockey has rejected US agribusiness giant Archer Daniels Midland's (ADM) $3.4 billion bid to takeover eastern Australia's biggest grain handler, GrainCorp. Mr Hockey announced his decision at a press conference this morning in Sydney, saying that now was "not the right time" for a 100 per cent foreign acquisition of a key Australian business like GrainCorp. [source]
ADM's GrainCorp takeover could hurt competition
19th Nov 2013 — As Treasurer Joe Hockey weighs the arguments over the takeover bid of GrainCorp, one of the oldest farm organisations in the US has warned that increased concentration in the industry will be bad news for Australian farmers. The National Farmers Union says it has watched the negative impact of foreign takeovers in its own country, and says Australia should reject the deal offered by Archer Daniels Midland (ADM). But the American growers who deal daily with the company say it is the only way to make the most of a booming global demand. [source]