World Grain - June 2009 - 18

newsreview
AWB posts mixed first-half results
MELBOURNE, AUSTRALIA - Net profit after tax at AWB Ltd.
totaled A$8.5 million ($6.6 million) in the first half of fiscal 2009,
down 62% from A$22.3 million in the same period a year ago. Net
sales, meanwhile, rose 9% to A$3.495 billion ($2.724 billion), driven
by increased activity in Australian grain marketing.
Within the Australian commodities management division, solid first-half results were driven by grain origination, sales and
chartering.
"The division capitalized on the opportunities presented by the deregulation of the Australian bulk wheat export market and acquired
approximately 5.9 million tonnes of wheat, or over 25% of the 2008-

09 wheat crop," Gordon Davis, managing director for AWB, said. "In
addition, the logistics business result improved significantly, due to
increased volume in GrainFlow sites, as well as good performance
from chartering.
"International commodities management division had a mixed
first half with Geneva achieving a strong result driven by the grain,
oilseed and freight businesses. However, the performance of our operations in Brazil was poor, and we have taken steps to address this
unacceptable result. We have restructured the management team in
Brazil and are refocusing and reducing the business into more commercially stable activities."

AWB served with summons regarding Iraqi lawsuit
MELBOURNE, AUSTRALIA - AWB announced on May 8 that
the company had been served with a summons and complaint regarding a civil lawsuit filed by the Republic of Iraq against the
company.
On July 1, 2008 AWB announced that the Republic of Iraq had
filed a civil lawsuit in the U.S. District Court for the Southern District of New York against 93 companies - including AWB - that
participated in the UN Oil-for-Food program (including AWB),
alleging violations of the U.S. Racketeer Influenced and Corrupt
Organizations Act (RICO) by the defendants, the company said.
The court on Oct. 20 granted an extension until Feb. 22, 2009

for the complaint to be served on the defendants. AWB said it was
not properly served with the summons and complaint by that date.
On March 26, 2009, the court granted the plaintiff's request for
a further extension of time to complete service on non-U.S. defendants to July 24, 2009, according to AWB. Following this extension
AWB has been properly served with the summons and complaint.
AWB said Iraq has indicated that it intends to file an amended
complaint in this matter, and the parties are currently discussing a
possible schedule for filing and service of an amended Complaint
and for subsequent motions to dismiss.
AWB said the company would vigorously defend the suit.

t -.

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Gymaga
"Over 20 year s ofexpe rience in
the desj Qn
,cons truct ion and
wpply oÂĒstorpge solutions,

worl dwide'

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ALL TYPE OF SILOS INSTALLATIONS TO COVER THE MARKET NEEDS
Silos for seeds , cereals. malts, oil seeds (soya. sun/lower rape, .. ), pellets , meals. rites.
and in general, products for agri culture, agri(oad indu stry biatuels and biomass
(wood pellets . ...)

For more information, see Page 86.

18

June 2009 / World Grain / www.World-Grain.com


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World Grain - June 2009

Table of Contents for the Digital Edition of World Grain - June 2009

Contents
World Grain - June 2009 - 1
World Grain - June 2009 - 2
World Grain - June 2009 - 3
World Grain - June 2009 - Contents
World Grain - June 2009 - 5
World Grain - June 2009 - 6
World Grain - June 2009 - 7
World Grain - June 2009 - 8
World Grain - June 2009 - 9
World Grain - June 2009 - 10
World Grain - June 2009 - 11
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https://digital.world-grain.com/sosland/wg/world-grain-november-2024
https://digital.world-grain.com/sosland/wg/world-grain-october-2024
https://digital.world-grain.com/sosland/wg/world-grain-september-2024
https://digital.world-grain.com/sosland/wg/world-grain-august-2024
https://digital.world-grain.com/sosland/wg/world-grain-july-2024
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https://digital.world-grain.com/sosland/wg/world-grain-march-2024
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https://digital.world-grain.com/sosland/wg/world-grain-january-2024
https://digital.world-grain.com/sosland/wg/world-grain-december-2023
https://digital.world-grain.com/sosland/wg/world-grain-november-2023
https://digital.world-grain.com/sosland/wg/world-grain-october-2023
https://digital.world-grain.com/sosland/wg/world-grain-september-2023
https://digital.world-grain.com/sosland/wg/world-grain-august-2023
https://digital.world-grain.com/sosland/wg/world-grain-july-2023
https://digital.world-grain.com/sosland/wg/world-grain-june-2023
https://digital.world-grain.com/sosland/wg/world-grain-may-2023
https://digital.world-grain.com/sosland/wg/world-grain-april-2023
https://digital.world-grain.com/sosland/wg/world-grain-march-2023
https://digital.world-grain.com/sosland/wg/world-grain-february-2023
https://digital.world-grain.com/sosland/wg/world-grain-january-2023
https://digital.world-grain.com/sosland/wg/world-grain-december-2022
https://digital.world-grain.com/sosland/wg/world-grain-november-2022
https://digital.world-grain.com/sosland/wg/world-grain-october-2022
https://digital.world-grain.com/sosland/wg/world-grain-september-2022
https://digital.world-grain.com/sosland/wg/world-grain-august-2022
https://digital.world-grain.com/sosland/wg/world-grain-july-2022
https://digital.world-grain.com/sosland/wg/world-grain-june-2022
https://digital.world-grain.com/sosland/wg/world-grain-may-2022
https://digital.world-grain.com/sosland/wg/world-grain-april-2022
https://digital.world-grain.com/sosland/wg/world-grain-march-2022
https://digital.world-grain.com/sosland/wg/world-grain-february-2022
https://digital.world-grain.com/sosland/wg/world-grain-january-2022
https://digital.world-grain.com/sosland/wg/world-grain-december-2021
https://digital.world-grain.com/sosland/wg/-world-grain-november-2021
https://digital.world-grain.com/sosland/wg/world-grain-october-2021
https://digital.world-grain.com/sosland/wg/world-grain-september-2021
https://digital.world-grain.com/sosland/wg/world-grain-august-2021
https://digital.world-grain.com/sosland/wg/world-grain-july-2021
https://digital.world-grain.com/sosland/wg/world-grain-june-2021
https://digital.world-grain.com/sosland/wg/world-grain-may-2021
https://digital.world-grain.com/sosland/wg/world-grain-april-2021
https://digital.world-grain.com/sosland/wg/world-grain-march-2021
https://digital.world-grain.com/sosland/wg/world-grain-february-2021
https://digital.world-grain.com/sosland/wg/2021_01_01
https://digital.world-grain.com/sosland/wg/2020_12_01
https://digital.world-grain.com/sosland/wg/2020_11_01
https://digital.world-grain.com/sosland/wg/2020_10_01
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https://digital.world-grain.com/sosland/wg/2020_06_01
https://digital.world-grain.com/sosland/wg/2020_05_01
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https://digital.world-grain.com/sosland/wg/2020_03_01
https://digital.world-grain.com/sosland/wg/2020_02_01
https://digital.world-grain.com/sosland/wg/2020_01_01
https://digital.world-grain.com/sosland/wg/2019_12_01
https://digital.world-grain.com/sosland/wg/2019_11_01
https://digital.world-grain.com/sosland/wg/2019_10_01
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