Lempriere CEO Addresses U.S. Wool Industry on Merger with CS Agriculture

June 10, 2016

The May 27 edition of the ASI Weekly reported that the Chinese-based textile group Shandong Ruyi had made moves to buy the trading division of Lempriere Australia. Lempriere's Chief Executive Officer Michael Davis this week provided a statement for the American sheep industry and its U.S. industry partners. Davis stated:

"This notification is to confirm that Lempriere (Australia) Pty Ltd has officially merged with CS Agriculture Pty Ltd (which owns Cubbie Station) in Australia. Shandong Ruyi is the ultimate shareholder of this new Australian group, and William Lempriere has stepped away from the wool business to focus on his other business interests."

What does this mean for Lempriere and our business with you?

"Shandong Ruyi is a private company that was established in 1972 and is the number one textile and apparel manufacturer in China with sales in excess of $3b. Ruyi are excited with the merger of these two businesses as it creates a financially stronger and complimentary Australian Group, expanding their soft commodity activity upstream. Ruyi have confirmed their commitment to the existing autonomy and management of the Lempriere business, which remains unchanged with myself as CEO and the autonomous divisional manager's that you deal with every day. In the United States, this is Rick Powers and his team of Jason Bannowsky and Grace Lang.

"So it is business as usual in all regards, and the Lempriere Team is committed to continuing partnering with you in your on-going relationships," Davis concluded in his statement.

The June issue of the Sheep Industry News will carry more comprehensive information on this topic.