AUSTRALIA: Merger forms biggest Australian cotton maker
Two large-scale Queensland cotton growers have merged, creating Australia's largest maker of the fibre.
Cubbie Station has combined with Blache Cotton making Cubbie Group, an unlisted public company.
The new company has the capacity to turn out 270,000 bales a year from a total 30,000 hectares of irrigated land. The business has assets totalling $440m, press reports said, making it one of the world's largest cotton producers.
Keith De Lacy is chairman of the new group, and will be joined on the board by independent directors Peter Forbes and Ian White and joint chief executives John Grabbe and Paul Brimblecombe from the two properties.
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