Less than three years after opening an office in Perth, United States grain giant Gavilon Holdings has decided to exit the Western Australian market.
The Omaha-based company told Business News that it had decided to consolidate its Australian activity through its Brisbane office and focus on its joint venture project with Singaporean agribusiness Wilmar International formed in 2007.
As a result, the Perth office would be closed.
Gavilon was taken over by Japanese trading house Marubeni Corporation in a deal worth $US2.7 billion, which closed in July this year.
Marubeni received about $660 million from the Japan Bank for International Cooperation to enable it to complete the transaction - giving JBIC a part share of the business.
For an in-depth analysis of Japanese investment in WA see next week’s Business News.
