|
AWB Limited was a major grain marketing organisation based in Australia. It was a government body known as the Australian Wheat Board until 1 July 1999, when the AWB was transformed into a private company, owned by wheat growers. In 2010, AWB was acquired by the Canadian firm Agrium, and in 2011 the company changed its name to Agrium Asia Pacific Limited. AWB has been the subject of controversy in the mid-2000s, amid revelations that the company paid kickbacks to former Iraqi leader Saddam Hussein, in what was known as "oil-for-wheat". These revelations and the subsequent Cole Inquiry have resulted in litigation being brought against former executives of AWB, including Andrew Lindberg, Trevor Flugge and Michael Long, some of which is still in progress .〔Hemphill, Peter. (Former AWB leaders Lindberg, Flugge and Long before the courts ) ''The Weekly Times'', Melbourne, 15 July 2015〕 AWB exports "into more than 50 countries, with Australian wheat exports worth up to $5 billion per year" (AWB 2006). AWB had veto power over any other prospective exporters of wheat, which effectively eliminated competition on the export market for Australian wheat, thereby capturing freight differentials. Exports are typically managed through commodity pools, which are managed investment schemes. The beneficial interest in the export grain is distributed to participants in the commodity pool. AWB has three core divisions - Rural Services, Financial Services and Commodity Management (which includes the National Pool). Rural Services and Financial Services offer products and services through the Landmark network, a 430 store retail distribution business serving rural Australia. Commodity management provides grain products to global customers with offices in Australia, Singapore, Tokyo, China, India, Geneva and Brazil. ==History of the company== The AWB was founded in the late 1930s, to regulate the wheat market after the excesses of the Great Depression. The ''single desk'' dates to this period. This type of arrangement was not unique to Australia, as the Canadian Wheat Board was created in 1935 in a similar fashion (but its history dates back to an earlier wheat marketing board created during the Great War, and also includes the experience of cooperative wheat pools during the 1920s). For much of its early history, it was a government-run and owned company. From July 1999 however, its board was restructured into a private company. It offered 'class A' shares to those who meet its definition of 'growers' and who had the ability to elect the majority of its board and chairperson,〔(AWB Constitution )", ABC Rural, 14 January 2008. Retrieved 25 May 2010〕 and from August 2001, 'class B' were publicly traded on the Australian Stock Exchange.〔"(Corporate History )", AWB Limited. Retrieved 25 May 2010〕 In 2008, constitutional amendments were passed. Despite resistance from several wheat lobbies and industry groups,〔 it consolidated ownership of AWB into one type of share, giving growers no special consideration. This change was proposed by the AWB management as necessarily to having a simpler, lower-risk business model.〔"(AWB Ltd 2009 Annual Review )", AWB Limited. Retrieved 25 May 2010〕 Since privatisation, AWB has grown to incorporate a number of subsidiaries to diversify its income away from its wheat exports. Its subsidiary businesses include GrainFlow to manage collection of grain from farmers to ports, companies to ship the grain overseas to customers, and Landmark rural services. By its own estimation, AWB is now a "grower owned and controlled company".〔 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「AWB Limited」の詳細全文を読む スポンサード リンク
|