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Cubbie Group Ltd turns biggest cotton producer
23 Dec '05
1 min read
Cubbie Station, a huge irrigated farm at Dirranbandi, and Blache Cotton, near the town of St George, will merge to become Cubbie Group Ltd, an unlisted public company with an asset of $ 440 million.
Cubbie Group Ltd has the capacity to produce about 270,000 bales if holding of 20,000 hectares is increased to 30,000 hectares of irrigated land, said De Lacy its new chairman, on Thursday.It will become Australia's biggest cotton producer and one of the biggest of the world, he added.
De Lacy optimistically said that, Cubbie Group Ltd is likely produce more than $100 million of cotton at the present rate of $400-plus per bale.
Cubbie Group Ltd may not require extra water entitlements but assets can be raised through equity if required.
Profitability is predicted to rise due to public company structure and a framework of good management Paul Brimblecombe said much benefits will flow from the new business setup.
Cubbie Group Ltd has the capacity to produce about 270,000 bales if holding of 20,000 hectares is increased to 30,000 hectares of irrigated land, said De Lacy its new chairman, on Thursday.It will become Australia's biggest cotton producer and one of the biggest of the world, he added.
De Lacy optimistically said that, Cubbie Group Ltd is likely produce more than $100 million of cotton at the present rate of $400-plus per bale.
Cubbie Group Ltd may not require extra water entitlements but assets can be raised through equity if required.
Profitability is predicted to rise due to public company structure and a framework of good management Paul Brimblecombe said much benefits will flow from the new business setup.
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