Ravenhill dairy sale suffers setback

08 Nov, 2012 10:31 AM
Comments
0
 
Ravenhill Dairy’s Bevan Ravenhill also said he wouldn’t make comment on the situation only to say the dairy would continue to operate as normal.
Ravenhill Dairy’s Bevan Ravenhill also said he wouldn’t make comment on the situation only to say the dairy would continue to operate as normal.

THE sale of the Ravenill Dairy looks to be off after it has been revealed that it has still not settled.

Earlier this year Elders Real Estate negotiated a contract for the sale of the Ravenhill Dairy and its factory enterprise for an undisclosed amount to an undisclosed Chinese buyer.

The sale was initially due to settle in August.

According to Elders Real Estate Albany agent David Treeby, the buyers were given every opportunity with several extensions of settlement date but did not complete the sale and were now in default.

He said he couldn’t comment further on the issue at this stage.

Ravenhill Dairy’s Bevan Ravenhill also said he wouldn’t make comment on the situation only to say the dairy would continue to operate as normal.

Mr Treeby told Farm Weekly in January the Chinese buyers saw the investment as a long-term project of cooperation and growth, not only for the benefit of themselves, but for the local and Statewide dairy industry as well as the local economy.

At the time he said it was the company’s intention to make a further investment in equipment at the factory on Ravenhill Diary with the installation of a high temperature pasteurisation plant for fresh milk and a milk powder production plant.

He had also said it was the buyer’s intention to continue to produce high quality milk production for the local market and directly target the upper end of Chinese and international consumers for export.

REIWA Rural Chapter president Don Fry said it was important for people to be aware of the risks in dealing with foreign investors.

He said the situation with Ravenhill was similar to what other real estate companies had recently experienced with foreign investment.

“I think it will make us wary in any future similar dealings,” Mr Fry said.

“Foreign investors have different agendas and priorities that we don’t sometimes understand.

“At the end of the day, the returns have to be there at the farm gate for anyone to invest in this sector.” He said the current situation would be quite challenging for the sellers who would have been planning the next stage of their life.

“But until there is money in the bank, there is no deal,” he said.

Farm Weekly

POST A COMMENT


Screen name *
Email address *
Remember me?
Comment *
 
Given the long and dry summer period, many farms will be searching for feed and/or needing to resow areas of the farm.
28 Apr 16 Given the long and dry summer period, many farms will be searching for feed and/or needing to resow areas of the farm.
The need for more even pasture supply and improved persistence has led one Fleurieu, South Australia, dairy family to trial and achieve early successes with new soft-leaved tall fescues and plantain pastures.
15 Apr 16  1 The need for more even pasture supply and improved persistence has led one Fleurieu, South Australia, dairy family...
light grey arrow
With the Chinese farms growing ever so rapidly, the price of milk will at most be stable and if
light grey arrow
"Farmers were also happy - many had been calling for companies to abandon the conservative
light grey arrow
As I am not a farmer I do get the gist of what your saying.There is one thing that puzzles me is
Dairy Australia has released a new calculator that aims to help farmers make better use of the nutrients contained in dairy effluent and sludge and save money in the process.
08 Mar 16 Dairy Australia has released a new calculator that aims to help farmers make better use of the nutrients contained...
Worksafe Victoria’s call for mandatory roll over or crush protection devices to be fitted to quad bikes has been welcomed by Farmsafe Australia.
23 Feb 16 Worksafe Victoria’s call for mandatory roll over or crush protection devices to be fitted to quad bikes has been...
The prospect of a big gain crop at the end of 2016 has sent forecasts for Australian farm production values jumping to $58.5 million.23 Jun 16 The prospect of a big gain crop at the end of 2016 has sent forecasts for Australian farm production values jumping...
Nationals senator John Williams criticised Treasurer Scott Morrison's decision to give a Chinese investor three extra years to reduce its stake in the giant Cubbie Station in the middle of an election campaign when the National Party is under pressure over foreign ownership of land.
22 Jun 16 Nationals senator John Williams criticised Treasurer Scott Morrison's decision to give a Chinese investor three...