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Company Information for Ridley Corporation Limited
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Company Statement
Ridley is Australia's largest stockfeed manufacturer and producer and refiner of salt for food and industrial markets.
Our 69% owned subsidiary Ridley Inc ranks among the largest stockfeed manufacturers in North America
Ridley was incorporated and listed on the Australian Stock Exchange in 1987. At the time, the company's principal activities included the Diamond Salt operation and subsequently, interests in regional radio stations in Victoria.
In 1990, Ridley began the first stage of its transformation into Australia's largest stockfeed and salt company. This involved the acquisition of Barastoc Stockfeeds in 1990, the sale of its radio and certain property interests in 1991, and the acquisition of the Cheetham Salt and Cheetham Rural businesses in 1992. As part of the acquisitions, the vendors became strategic shareholders in the company. These shareholdings were sold in 1993 through the placement of shares to a wide range of private and institutional investors.
Since 1992, Ridley has undertaken a number of smaller acquisitions in Australia to expand its stockfeed operations. The acquisition of Cheetham and its integration with the original Diamond Salt operation generated significant synergies and enabled the enlarged salt business to expand by purchasing 50% Dominion Salt, New Zealand's major salt company, in 1996.
Ridley entered the North American market in 1994 by acquiring Feed-Rite, a large Canadian stockfeed company based in western Canada. In 1997 Ridley acquired Hubbard Feeds, based in the US mid-west, and listed Ridley Canada (now Ridley Inc) on the Toronto Stock Exchange. The acquisition of Hubbard Feeds almost doubled Ridley's North American stockfeed sales volume and included the low moisture block business.
In 1998 Ridley acquired Cotswold Pig Development Company Ltd in the UK. Cotswold developed and sold swine genetics in the UK and Europe. This business was sold in 2002 after a period of losses due to disease outbreaks.
Ridley acquired Wayne Feeds in 2000 substantially expanding its presence in the US stockfeed market and in 2004 the business and assets of Sweetlix LLC was acquired making Ridley the largest manufacturer of free choice feed supplement blocks in North America.
In 2005, Ridley acquired Dry Creek salt field in South Australia from Penrice for A$54.5m. The salt field is located on the outskirts of Adelaide and covers an area of 4,000 hectares with an annual production capacity of 650,000 tonnes. The salt field will become part of the operations of Ridley's wholly-owned subsidiary Cheetham Salt. In conjunction with the acquisition, Ridley has entered into a long term 'take or pay' contract to supply Penrice with approximately 600,000 tonnes of salt per annum via a dedicated brine pipeline. The duration of the contract is for an initial term of fourteen years, with Penrice having the option to renew the contract under the same terms at the end of the initial term for a further period of up to fourteen years. The 'take or pay' supply contract associated with this acquisition will provide an additional long-term stable income stream to Ridley's earnings.
Our Vision
Ridley's vision is to build on the strong position we hold in existing markets in animal nutrition products and to be a significant regional force in the distribution and manufacturing of salt.
We will achieve this by making the Ridley name synonymous with quality. This philosophy of quality drives our:
commitment to providing our customers with products whose integrity and safety is assured
passion for understanding and managing the risks in all areas of our business
strict financial disciplines that we apply to the management of our balance sheet
means of working with employees and suppliers to minimise our environmental footprint and ensure the safety of all
recruitment policies allowing us to be at the forefront of pioneering solutions that benefit our customers
Current Operations
Ridley AgriProducts is the largest producer and marketer of stock feed products in Australia.
Ridley AgriProducts is a 100% owned subsidiary of Ridley Corporation. It has established itself as a clear leader in the Australian animal nutrition market. This position has been realised by providing the broadest available range of high performance products that meet the specific need of Australia's livestock, fish and pet industries.
Ridley AgriProduct's major brands include: Barastoc, Supastok, Fielders Farm, Cobber, Ridley Aqua Feeds.
Cheetham Salt is Australia's largest producer and refiner of salt products for food and industrial markets.
Cheetham Salt Limited, a wholly owned subsidiary of Ridley Corporation Limited, is Australia's largest producer and refiner of salt for food and industrial markets. Cheetham Salt's associate companies include Salpak throughout Australia, Western Salt Refinery in Western Australia, Dominion Salt and Cerebos-Skellerup in New Zealand and PT Cheetham Garam in Indonesia. Cheetham Salt distributes salt throughout Australia, South East Asia and the Pacific Region.
Cheetham’s major brands include: Saxa, Cerebos, Mermaid, Kooka, and Crown.
Ridley Inc is a leading manufacturer and distributor of formulated animal feeds and animal health products, ranking among the largest livestock feed manufacturers in North America.
Listed on the Toronto Stock Exchange in 1997, with Ridley Corporation Ltd retaining 69 per cent ownership. Ridley Inc markets a broad range of complete feed rations, nutritional supplements, feeding blocks and vitamin/mineral premixes directly to livestock producers and through dealer organisations from 41 production plants in Canada and the United States.
Ridley Inc’s major brands include: Feed-Rite, Hubbard, Crystalyx, Sweetlix
Board of Directors and Key Management
| John S Keniry AM BSc PhD FTSE FRACI FAICD | Independent Chairman |
| Richard J Lee BEng (Chem) (Hons) MA (Oxon) FAICD | Independent Deputy Chairmannd prior to that spent 16 years in the CSR sugar division. |
| Matthew P Bickford-Smith | Chief Executive Officer and Managing Director |
| Elizabeth B Bryan BA MA (Econ) FAICD | Independent Non-Executive Director Company Directors and on the National Board of the Institute. |
| Robert J Lotze FCA MAICD | Independent Non-Executive Director |
| Associate Professor Andrew L Vizard BVSc (Hons) MPVM | Independent Non-Executive Director |
Company AddressRidley Corporation LimitedLevel 10, 12 Castlereagh Street
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Additional Address/Key ContactRidley AgriProducts Pty Ltd Telephone: + 61 3 5941 1633 Telephone: + 61 3 5275 8000 Website: www.cheethamsalt.com.au Email: enquiries@cheethamsalt.com.au Ridley Inc Telephone: + 204 956 1717 Website: www.ridleyinc.com Email: guest@ridleyinc.com |
Annual General Meeting29 October 2007 |
Most Recent Statement
02/10/07 - Ridley Inc Board Changes Oct0725/09/07 - Notice of Meeting October 2007
23/09/07 - DRP Pricing September 2007
05/09/07 - Ridley Inc Canadian lawsuits update
20/08/07 - 2007 Annual Results Presentation
20/08/07 - Full Year Results Aug07