CRT chairman Don McFarlane says the company has received a
strong mandate to proceed with the proposed Farmlands merger,
following the first shareholder vote yesterday.
CRT chairman Don McFarlane might be feeling ''a lot more
confident now'' than at the start of the proposed Farmlands
merger process but, as he acknowledges, the final decision
rests with shareholders.
Combined Rural Traders chairman Don McFarlane says the
business case for a merger with North Island-based Farmlands
is ''very strong'', despite two Farmlands directors resigning
over the proposal.
Combined Rural Traders (CRT) and Farmlands Trading Society
have acknowledged they are investigating a potential merger
between the two farmer-owned co-operatives.
Rural servicing co-operative CRT has reported another bumper
year with a record turnover of $1.292 billion and record
operating surplus of $13.1 million in the year to March 31.
South Island rural servicing company CRT has strengthened its
presence on the West Coast with the purchase of the Westland
Farm Centre store in Hokitika, from Westland Milk Products.
Rural servicing co-operative CRT expects turnover to exceed
$1 billion this financial year as acquisitions and
investments start to bear fruit.
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