Business Weekly - Cambridge, UK

HOME

£3m will be invested in Bedfordshire seed plant

Written by Business Weekly

Friday, 11 June 1999

Banks Agriculture and Cargill Plc have announced their intention to create an independent joint venture seed company to process seed for the parent companies' agricultural supply businesses. Banks Agriculture and Cargill Plc have announced their intention to create an independent joint venture seed company to process seed for the parent companies' agricultural supply businesses. In this groundbreaking move, the company, Newtech Processing Ltd, will have entirely independent status and will assume ownership of all the existing Cargill and Banks seed plants and operations in the UK. Approval has been given to jointly invest in excess of £3m in a new industry-leading seed plant in the Bedfordshire area in early 2000, and to further invest in the existing Swinderby and Newbury sites. Cargill's Turvey and Blandford seed processing plants will cease operations by autumn 1999 and Banks' Sandy plant by early 2000, and will be incorporated into the brand new Newtech facilities. Cargill's commercial employees and offices in Turvey and Blandford will be unaffected by this initiative. Mark Aitchison, general manager of Cargill's Agricultural Division, commented: 'This innovative development is designed to provide the latest technology and most competitive package to our customers by reducing costs and inefficiencies in both our existing seed manufacturing operations. Richard Banks, managing director, Banks Agriculture, continued: 'The new company will provide both Banks and Cargill with industry-leading seed cleaning capability for the future, enhancing both our operations without altering our entirely independent farm gate activities.

 

< Prev		Next >