Wednesday, March 27, 2013

Olam

Olam: opens it’s A$60m, 12k sm almond hulling and processing plant in Victoria, Australia. The plant is expected to de-hull and shell 14 tons of almonds per hr. The group believes the almond business has strong growth potential, particularly given its proximity to Asia. Expects the plant’s total capacity to reach 40k mt of almond kernels each yr, meeting all of its upstream orchard volumes and positioning the group to meet the rapid growth in almond demand in India, china, SE Asia and Middle East. Olam Australia owns 12k ha of orchards across 11 farms in the Sunrayasia district. Olam group is one of the top three almond orchard owners globally. Olam shares have been trending up ytd, as the impact from Muddy Waters’ accusation that Olam used accounting tricks to distort its financial statements fades. Olam W180129 have similarly been seeing positive gains. Independent director Jean Paul Pinard picked up 225k warrants from the open mkt earlier this wk.

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