Elders extends financing to focus on Rural Services
Elders has today announced that it has completed an extension of its finance facilities to 31 December 2014, as part of a comprehensive plan to secure the repositioning and sustainability of the Company as a pure agribusiness.
The extension of finance facilities will include a mixture of term, working capital and debtor securitisation facilities, sufficient to fund the ongoing needs of the business.
Commenting on the announcement, Elders managing director Malcolm Jackman said the extension of finance would allow Elders to complete the consolidation into a sustainable and profitable agribusiness.
“Elders is now in a good position to focus on servicing the day-to-day needs of our rural and regional clients,” Mr Jackman said.
“We acknowledge the ongoing support of our banks, who have allowed Elders to continue trading as normal, to our people for their continual dedication and hard work and to our clients for their support over many years” he said.
“This is a great result for the business, our shareholders, and the agricultural industry as a whole.”
For more information:
Fiona Stuckey – Senior Specialist, Communications – 0419 226 384