PGW - PGG Wrightson

[winner69]

Surprised they gave little indication as to what the acquisition brings to PGW except to say they bring a few new things (obviously products or technology) and Parker seems excited about having a greater presence in the North Island

So they have bought a Tyco company .....for how much? .turnover not stated....wonder what it is?
How much does this add to pgw's 100 milll of sales and what does it do the bottom line.


No doubt we will find out in due course but the ho hum announcement ( not even flagged as price sensitive) would suggest just a bolt on that not going to do too much. If it was going to make a difference no doubt more detail would have given ....and a little more excitement

Footnote: how much goodwil from this transaction to be written off in the future Snoopy

[percy]

Surprised they gave little indication as to what the acquisition brings to PGW except to say they bring a few new things (obviously products or technology) and Parker seems excited about having a greater presence in the North Island

So they have bought a Tyco company .....for how much? .turnover not stated....wonder what it is?
How much does this add to pgw's 100 milll of sales and what does it do the bottom line.


No doubt we will find out in due course but the ho hum announcement ( not even flagged as price sensitive) would suggest just a bolt on that not going to do too much. If it was going to make a difference no doubt more detail would have given ....and a little more excitement

Footnote: how much goodwil from this transaction to be written off in the future Snoopy

Feel they are now "well positioned" to expand their irrigation business in the North Island.!
According to "The Press" price paid was about $5mil.

[winner69]

Takes water stuff beyond the farm and orchards and vineyards .....into stadiums and racecourses and wonderful places like that

[iceman]

Sir John exiting after 3.5 years of lots of hard work in the Chair

PGW
23/09/2013 13:56
DIRECTOR

REL: 1356 HRS PGG Wrightson Limited

DIRECTOR: PGW: Retirement of Sir John Anderson, Chairman PGG Wrightson

PGG Wrightson advises that Chairman of the Board, Sir John Anderson is to
retire from the Board and will step down following the Annual Shareholders'
Meeting on 22 October.

Sir John was appointed Chairman in February 2010 and led the Board through a
challenging period of the company's history. Highlights of his time in the
Chair include the sale of the company's finance company, PGG Wrightson
Finance in 2011, a refocusing of the company on its core operating
businesses, repayment of core debt and a resumption of dividends.

In announcing his retirement, Sir John noted that when he joined the Board
his focus was on establishing good governance and addressing the legacy
issues faced by the company.

"When I came to the Chair in 2010 the business was dealing with the after
effects of both the 2005 merger which formed the business and the Global
Financial Crisis. In the last three and a half years we've overseen work to
stabilise the foundations of the business. We've fixed the balance sheet and
invested in the operating systems, staff and infrastructure of the business.
The business is now ready for its next phase of development and I think it's
time for someone else to lead the Board through this."

Chief Executive, Mark Dewdney praised the contribution Sir John had made to
the company. "Sir John is one of New Zealand's most distinguished business
leaders as illustrated by his induction into the Business Hall of Fame
earlier in the year. The leadership he has brought to the Board table has
clearly been a tremendous asset to the business over the last few years."

A new Chairperson will be appointed by the Board following the Annual
Shareholders' Meeting.

[percy]

Job well done.!
Pity I will miss the agm as it is on the same time as Ebos's.

[Snoopy]

Sir John exiting after 3.5 years of lots of hard work in the Chair

PGW
23/09/2013 13:56
DIRECTOR

REL: 1356 HRS PGG Wrightson Limited

DIRECTOR: PGW: Retirement of Sir John Anderson, Chairman PGG Wrightson

<snip>

A new Chairperson will be appointed by the Board following the Annual
Shareholders' Meeting.

Interesting that no replacement for Sir John has been announced. Did he jump or was he pushed?

SNOOPY

[Snoopy]

me thinks the loss of senior management may have a bit to do with Mr Lai and his demands to use PGW as a cash cow to prop up his other interest.
Time to get out and have done.

You may have got this one just right Snapiti. I am always wary about Ag managers cashing in on a boom by buying up rival businesses at premium prices. Inevitably when the market turns, these purchases tend to look not so clever.

PGW paid $5m to extend their irrigation division reach. But even if they earned $500k incremental profit, that amounts to 2% on a baseline company NPAT of $25m. That hardly justifies a share price surge from 34c to 39c I would have thought.

The exchange rate is heading up again. How long will the milk bubble hold up? Maybe that Ozzie seed's business really will turn the corner this year? It would be nice to have a really positive initiative to look forward to from PGW. It is hard to be truly inspired though by stories we have all heard before.

SNOOPY

[Xerof]

Interesting that no replacement for Sir John has been announced. Did he jump or was he pushed?

SNOOPY

It's my personal opinion only, but I think Sir J was originally installed by their Bankers, to sort out the mess it was in at the time. Job largely done from the perspective of the Bankers, so he can go and put his feet up.

[Morpheus]

I'm a bit perplexed about why Agria has sold their half stake in Ganxin Seeds Company. Ganxin holds the proprietary right for JiXiang No.1 corn seed, which as I understand has enormous potential.

[Jim]

I'm a bit perplexed about why Agria has sold their half stake in Ganxin Seeds Company. Ganxin holds the proprietary right for JiXiang No.1 corn seed, which as I understand has enormous potential.

They might want to gain 100 % of PGW while the share price is still low.