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Article: Ridley ready to feed again.
- Article from:
- Australasian Business Intelligence
- Article date:
- August 26, 2003
CopyrightCOPYRIGHT 2003 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Aug 26, 2003 (The Australian Financial Review - ABIX via COMTEX)
Australian stockfeed and salt group, Ridley, expects to add acquisitions before the end of calendar 2003. CEO, Matthew Bickford- Smith, said the company's balance sheet will allow further growth, with debt having been halved since 2001 to $A151 million. He says the company is looking at "bite-sized" purchases in the North American feed market with a high value-added component. Bickford-Smith said there is also room for growth in Ridley's Cheetham Salt business in Australia through mergers and logistics alliances. Ridley's share price fell 8.5% or $A0.14 to $A1.51 on 26 August 2003, reflecting ...