Leading Australian grains groups AWB Ltd and GrainCorp Ltd said on Monday they had formed a joint-venture to better manage the logistics of grain exports on Australia's east coast.
The joint venture was designed to improve co-ordination in grain exports, increase efficiencies and, over time, to lower supply chain costs to improve the competitive position of Australian grain growers in the global market, the groups said.
The joint venture would contract with AWB and GrainCorp to manage and co-ordinate supply chain activities in eastern Australia for grain exports.
It would also enter into contracts for receivable, storage and handling and rail services with all service providers and other entities to provide an integrated storage and transport service for AWB and GrainCorp export grain businesses, they said.