T&R Pastoral heads West!

Friday, February 10, 2006

Leading South Australian Processor T&R Pastoral announced today, the successful completion of its purchase of the "Lakes Road Abattoir", North Dandalup, Western Australia.

Darren Thomas, Executive Director of T&R Pastoral, announced his company's decision today after a lengthy and detailed negotiation period with Administrators Ferrier Hodgson, who were charged with the responsibility of selling the asset of the former WA processing giant EG Green. The sale is to believed to be in the vicinity of 4 millions dollars (AUD), with settlement due by the end of March 2006. Mr Thomas has expressed great delight in the final closure of the transaction and believes it will be a positive outcome for the Western Australian rural community and the general economy in Western Australia. "T&R has had a presence in the Western Australian livestock industry for over 20 years - to enter the processing sector was a natural progression for the rapidly growing processing company". Mr Thomas said. "Our board's strategy had been to enter the processing industry in Western Australia for some time, when the joint venture with Elders failed to crystalise the opportunity to purchase Lakes Road presented itself. Logically we welcomed the opportunity." The company is considering various models to ensure the successful operation of the Lakes Road Abattoir, which includes an approval by its board for capital expenditure of some $40 Million dollars. This would see the Lakes Road abattoir become one of the newest and most efficient export processing plants in Australia. Mr Thomas also noted that his company was looking forward to working closely with the Western Australia Government, Local Government and with the associated statutory authorities. "I believe the Western Australian rural community, by way of an extra option to market their livestock will benefit significantly. The successful operation of this plant will add real economic benefit to the local and state economy by increased employment and an increase in exports." Mr Thomas said. T&R comes to Western Australia with specific expertise in processing and have a considerable track record of success within the industry. The company has set itself a mandate to ensure the Lakes Road abattoir in which ever format it takes becomes a leading processing option for rural Western Australia.

T&R The Company

T&R is a wholly Australian family owned meat-processing company whose principals are the Thomas and Rowe Families. They have combined, over 100 years of experience in the Australian livestock industry, and of recent times processing has become their core business. They own and operate two multi-species operations in South Australia processing 9000 Mutton and Lambs per day and 1000 cattle per day. They currently employ more than 1400 people in regional South Australia.

Ends

All enquires can be made to Darren Thomas T&R Pastoral. 0885321955.