McCormack raises GrainCorp concerns with new Treasurer

THE first letter on the desk of new Federal Treasurer is calling on him to reject the
proposed takeover of GrainCorp.

Federal Member for Riverina, Michael McCormack, has written to the new Treasurer, Chris
Bowen, regarding the proposed Archer Daniels Midland takeover of GrainCorp.

“As soon as Mr Bowen was signed in as Treasurer, I wrote and hand-delivered the letter, calling on him to reject the takeover when it comes on his desk,” Mr McCormack said.

“It will be the first letter he will see after signing his commission to office at Yarralumla this morning.”

“Like my representations to Wayne Swan, I told Mr Bowen such a takeover is not in the national interest.” 

“I look forward to his response in this very important matter to Riverina and eastern state grain growers,” Mr McCormack said.

GrainCorp is Australia’s largest listed agribusiness, operating seven of the nine bulk export terminals along the eastern seaboard; handling about 80 per cent of Queensland, New South Wales and Victorian grain exports.

Cristy Houghton