{"id":2852,"date":"2020-05-26T10:01:36","date_gmt":"2020-05-26T08:01:36","guid":{"rendered":"https:\/\/www.ldc.com\/au\/?post_type=press-release&#038;p=2852"},"modified":"2020-05-26T10:13:17","modified_gmt":"2020-05-26T08:13:17","slug":"namoi-cotton-ltd-and-louis-dreyfus-company-announce-agreement-on-namoi-cotton-alliance-restructure","status":"publish","type":"press-release","link":"https:\/\/www.ldc.com\/au\/en\/press-releases\/namoi-cotton-ltd-and-louis-dreyfus-company-announce-agreement-on-namoi-cotton-alliance-restructure\/","title":{"rendered":"Namoi Cotton Ltd and Louis Dreyfus Company announce agreement on Namoi Cotton Alliance restructure"},"content":{"rendered":"\n<p><a>Namoi\nCotton Limited (Namoi Cotton) and Louis Dreyfus Company (LDC) announced today\nthe signing of a Restructuring Term Sheet detailing the proposed restructure of\ntheir joint venture, Namoi Cotton Alliance (NCA).<\/a><\/p>\n\n\n\n<p>This\nfollows an announcement late last month, as part of Namoi Cotton\u2019s 2019 full\nyear results, that the two companies were in discussion around a broader\nrestructure of the joint venture beyond 29 May 2020. <\/p>\n\n\n\n<p>Namoi Cotton\u2019s Chief Executive Officer, Michael Renehan, said \u201cthe Board of Namoi Cotton had long recognised that it needed to get back to its core business of ginning and marketing cotton.&#8221;<\/p>\n\n\n\n<p>\u201cThis new agreement helps us achieve this by putting the functional operations of the NCA business in the hands of the joint venture partner best suited to the task and better aligning our business exposure with our risk appetite.&#8221;<\/p>\n\n\n\n<p>\u201cImportantly for the local industry, it\nalso allows customers to pursue opportunities with NCA, confident that the\nbusiness has the full support of two major players in the Australian and global\ncotton markets,\u201d he said.<\/p>\n\n\n\n<p>Under the proposed\nrestructure, NCA will continue to offer its full suite of products and services\nacross its three divisions, comprising the trading and marketing of cotton\nlint, warehousing and logistic facilities, and containerised commodity grains\npacking facilities. <\/p>\n\n\n\n<p>LDC will assume day-to-day management\nfor the business\u2019 trading and marketing and warehousing activities, while Namoi\nCotton will focus on cotton origination and grower services and assume\nmanagement of the packing division. <\/p>\n\n\n\n<p>Namoi Cotton\u2019s share of the trade and marketing\ndivision will reduce from 51% to 15% whilst LDC\u2019s share will increase to 85%\nand LDC will arrange debt finance pursuant to NCA\u2019s operating plan. <\/p>\n\n\n\n<p>Thomas Couteaudier, LDC\u2019s Head of South &amp; Southeast Asia Region, added \u201cBy leveraging LDC\u2019s global trading and research expertise, as well as Namoi Cotton\u2019s strong processing and marketing track record in Australia, we believe that the restructure will enable NCA to bring greater value to growers and customers alike.&#8221;<\/p>\n\n\n\n<p>\u201cWe look forward to a continued\nfruitful collaboration with Namoi Cotton, as we drive the growth of NCA in our\nnew capacity,\u201d he concluded. <\/p>\n\n\n\n<p>The proposed restructure will take effect upon receipt of all necessary regulatory approvals and any third-party consents. <\/p>\n\n\n\n<p><strong>For further information,\nplease contact:<\/strong><\/p>\n\n\n\n<p>Priscilla Teo<br>Regional Communications Manager<br>Louis Dreyfus Company<br>+65 9826 5700    <\/p>\n\n\n\n<p>Michael Renehan                    <br>Chief Executive Officer    <br>Namoi Cotton Limited            <br>+61 (0)419 513 819    <\/p>\n\n\n\n<p><strong>About Namoi Cotton Alliance<\/strong><\/p>\n\n\n\n<p>Namoi\nCotton Alliance (NCA) operates two of its own warehousing facilities located at\nWee Waa in the Namoi Valley and Goondiwindi in the MacIntyre Valley.<\/p>\n\n\n\n<p>NCA trades lint cotton originated by Namoi Cotton\u2019s grower services\nteam. The trading incorporates significant risk management and financing\nactivities with a global reach, marketing and selling cotton into China,\nVietnam, Indonesia, Thailand, Korea, Japan, Bangladesh, India and Turkey. These\nactivities are supported by extensive warehousing and logistic services\noperations that ensure the efficient storage, handling and movement of the\ncotton into these end markets.<\/p>\n\n\n\n<p>NCA also operates a grain packing business providing an efficient and\ncost-effective supply chain solution to growers and merchants for their grain\nlogistics and container packing requirements for exported grain.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Namoi Cotton Limited (Namoi Cotton) and Louis Dreyfus Company (LDC) announced today the signing of a Restructuring Term Sheet detailing the proposed restructure of their joint venture, Namoi Cotton Alliance (NCA). This follows an announcement late last month, as part of Namoi Cotton\u2019s 2019 full year results, that the two companies were in discussion around [&hellip;]<\/p>\n","protected":false},"featured_media":2854,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-2852","press-release","type-press-release","status-publish","format-standard","has-post-thumbnail","hentry","category-business-and-finance"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.0 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Namoi Cotton Ltd and Louis Dreyfus Company announce agreement on Namoi Cotton Alliance restructure || Louis Dreyfus Company<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ldc.com\/au\/en\/press-releases\/namoi-cotton-ltd-and-louis-dreyfus-company-announce-agreement-on-namoi-cotton-alliance-restructure\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Namoi Cotton Ltd and Louis Dreyfus Company announce agreement on Namoi Cotton Alliance restructure\" \/>\n<meta property=\"og:description\" content=\"Namoi Cotton Limited (Namoi Cotton) and Louis Dreyfus Company (LDC) announced today the signing of a Restructuring Term Sheet detailing the proposed restructure of their joint venture, Namoi Cotton Alliance (NCA). 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