Ravensdown is seeking to exit its unprofitable fertiliser operations in Western Australia as part of a wider strategy review.
In a statement yesterday, chief executive Greg Campbell said the company was in negotiations with interested parties and those discussions ''could take some months''.
Difficult market conditions in the state led to ''unacceptable results'' for another financial year. While the total year-end results were still being audited, operationally the trading loss in Western Australia was about $9 million on the back of three previous years of smaller losses, Mr Campbell said.
''This is clearly a disappointing result. A clear action plan to turn around that business over the last year was implemented but the business still made a loss.
''Any ongoing losses are unsustainable because, as a co-operative, each part of our operation ultimately needs to stand on its own feet and contribute,'' he said.
Ravensdown entered the Western Australia market in 2008 and, since then, it had encountered ''its fair share of challenges''.
''With the droughts, a global financial crisis and see-sawing grain prices, a number of farmers in WA have had a grim time of it.
''With so many players competing for an increasingly scarce rural dollar, it's no surprise that volumes and margins have been constantly under pressure,'' Mr Campbell said.
Ravensdown employed 39 staff in Western Australia, with 4000 shareholders in the co-operative in the state.
