WESTERN Australian grains handler Co-operative Bulk Handling, also known as CBH Group, has been ranked number one for the second consecutive year in Co-operatives Australia’s top-100 list, based on annual turnover.
WESTERN Australian grains handler Co-operative Bulk Handling, also known as CBH Group, has been ranked number one for the second consecutive year in Co-operatives Australia’s top-100 list, based on annual turnover.
The Co-operatives Australia top-100 list aims to facilitate greater awareness of cooperatives and the economic and social impact of cooperatives, credit unions and mutual businesses.
Four WA businesses took out the top five spots, with health insurer HBF, the central buying group for the motor trade industry Capricorn Society, and motoring and finance group RAC WA placing third, fourth and fifth respectively.
Victorian dairy producer Murray Goulburn Co-operative placed second with an annual turnover of $2.24 billion. Other WA business to rank highly included Ravensdown Fertiliser Co-operative, Geraldton Fisherman’s Co-op, and Police & Nurses Credit Society.
CBH is owned and controlled by 4,500 WA grain growers and produced an annual turnover of $2.63 billion for the year ending 2010.
Acting CBH Group CEO David Moroney said retaining the position as Australia’s top cooperative was satisfying considering the major review of CBH’s operating model and business structure last year.
In January, the group announced that it would remain a cooperative owned and controlled by local grain growers.
“Our investigation, and the latest top-100 list, reinforce that cooperatives can be just as successful as corporate entities, and in some sectors can do better, provided they adapt to their changing environment and the changing needs of their members,” Mr Moroney said.
The announcement of the top 100 cooperatives coincides with CBH’s transition to the new WA Co-operatives Act and the modernising of its constitution, which grower members voted overwhelmingly in favour of at this week’s general meeting.
“As Australia’s biggest cooperative, CBH is leading the way and it is understood CBH will be the first WA cooperative to transition to the new Act,” Mr Moroney said.
CBH Group chairman Neil Wandel said the outcome of the general meeting demonstrated the strong level of grower support for the direction being taken by their cooperative.
“This was the next important step in our journey following the board’s decision in January that CBH should remain a cooperative totally focused on the best interests of growers,” Mr Wandel said.
A new set of modernised rules for CBH was also approved by 96 per cent of CBH members.
Amendments to the constitution set out active membership requirements, including provisions for the issue of cooperative capital units as a means of raising capital and increasing the number of grower members required to requisition a special general meeting.
