Deniliquin SunRice to reopen mill despite takeover bid

SunRice this week announced the planned reopening of its Deniliquin Mill next year despite facing pressure to accept a $600 million foreign takeover bid.The fully functioning rice mill would create almost 90 new jobs and be at the forefront of SunRice's operations.The mill was closed and placed into "care and maintenance" in 2008 after years of drought saw the production drop from an industry average of one million tonnes a year to just 19,000 tonnes.SunRice chairman Gerry Lawson on Monday said expectations of a strong crop next year meant the company's board was delighted to recommission the Deniliquin base."The Deniliquin mill is not only SunRice's largest and most sophisticated mill, it is one of the largest rice mills in the world," he said.The mill will recruit local staff and begin processing paddy as early as April next year."The strong crop, coupled with the mill reopening, will have a positive impact on the region as a whole and bring with it significant economic flow-on effect," Mr Lawson said.SunRice chief executive officer Gary Helou said the close to 90 new staff will receive job training, accreditation and licensing by early next year.At a shareholder meeting in Leeton on Monday, Mr Helou said company executives were still in talks with Spanish company Ebro about the possible takeover.If it does go forward it would likely happen in March next year - just one month before the reopening of the Deniliquin Mill.Mr Helou said no jobs would be affected if the takeover goes ahead.

Smartphone
Tablet - Narrow
Tablet - Wide
Desktop