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Ingham’s cuts costs, Air T expands, GrainCorp reviews Canada unit, and New Forests buys Solomon Islands forest.
Ingham’s is restructuring into three divisions to cut $10 million annually and achieve up to $80 million in cost savings, facing short-term earnings pressure after losing a Woolworths contract and seeing higher farming costs, though chicken and turkey demand remains stable.
Its share price has dropped sharply since May amid speculation of a potential sale.
US-based Air T is acquiring Regional Express for $172.5 million, with $50 million in new investment to expand its fleet to 44 aircraft, under a creditor-approved deal preserving jobs and regional flights.
GrainCorp is assessing its underperforming Canadian joint venture, GrainsConnect, after a $26 million writedown and ongoing market challenges, though it remains optimistic about future crops.
New Forests is acquiring 75% of Kolombangara Forest Products in the Solomon Islands, a 40,000-hectare forestry operation with conservation-managed rainforest and hardwood plantations.
Ingham recorta costos, Air T se expande, GrainCorp revisa su unidad en Canadá, y New Forests compra el bosque de las Islas Salomón.