“We are expecting record volumes in our Brazilian marketing activities. Brazil could contribute 250,000 bales which is likely to exceed 20% of total marketing volumes. This compares to 100,000 Brazilian bales which contributed to around 10% of our global volumes from only three years ago,” said Mr Haire. “Our strategic move into Brazil has significantly strengthened our global operations and reinforced our approach to new markets.”
Mr Haire estimated that Queensland Cotton would gin almost 500,000 bales globally this financial year.
NSW is expected to contribute 39% of the company's total Australian ginning volumes, up from 16% last year. This further demonstrates the strategic value of the company's acquisition of the Twynam group's NSW gins last year. Queensland Cotton is currently subject to a takeover proposal from Olam International Limited of $4.75 per share which will be increased to $5.05 per share should Olam achieve acceptances for 90% of all shares.
Queensland Cotton Holding Limited
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