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AECI buys stake in Indonesian firm

first_img9 November 2012South African explosives and chemicals company AECI has acquired a 42% stake in Indonesian chemical firm Black Bear Resources Indonesia (BBRI) for US$23-million, the organisation announced on Wednesday.“In line with its internationalisation strategy, AECI subsidiary AEL Mining Services entered the Indonesian market in 2009,” AECI said in a statement. “Significant sales volumes were achieved and AEL rapidly became the second largest supplier of explosives to that market.”BBRI is building a nitric acid plant and ammonium nitrate solution plant in Bontang in Indonesia and AECI believe in-country access to a secure source of ammonium nitrate will sustain its growth in the country.“The BBRI partnership is the first phase of a potential future AECI investment programme for the growing Southeast Asian mining services market,” the company said.The firm has also expanded its southern African interests by acquiring 80% of Afoodable Proprietary Limited in Cape Town, which will be merged into the food division of Lake International Technologies.Afoodable primarily manufactures and bottles marinades and sauces for retailers an manufacturers. Lake represents international manufacturers and suppliers of specialty ingredients for the food industry.“The Afoodable acquisition provides Lake with entry into the meat sauces industry and enhances the range of products and services available to its customers in Southern Africa,” AECI said.The acquisitions form part of the company’s plans to expand its footprint further into Africa, Southeast Asia and South America.SAinfo reporterlast_img read more

Farmers under fire from legal action

first_imgShare Facebook Twitter Google + LinkedIn Pinterest Agriculture is in the crosshairs as class-action lawsuits seek huge monetary awards against agricultural producers, said a panel of experts at a workshop at the American Farm Bureau Federation’s 100th Annual Convention.Panelists Andy Curliss, CEO of the North Carolina Pork Council; Harrison Pittman, director of the National Agriculture Law Center and Blake Hurst, president of the Missouri Farm Bureau Federation, discussed the recent lawsuits targeting production agriculture and suggested actions that state Farm Bureaus can take to fight these targeted attacks.AFB Women’s Leadership Committee member Lorenda Overman, moderator of the panel, summarized the law firms’ strategy in North Carolina and the effect of the verdicts on farmers.“On paper it looks like they’re suing Smithfield Foods, but the farmer is the one on trial,” Overman said. “Once the trial is over and the verdict is read, the farms are depopulated, leaving the farmer with no income. The juries have awarded huge damages, even though all of these farms were in compliance with the law.”Curliss said that four recent trials in North Carolina have resulted in more than $550 million in damages for 26 plaintiffs, with hundreds of other plaintiffs currently awaiting trials.In July 2018, a North Carolina jury awarded more than $25 million in a lawsuit against Smithfield Foods, alleging the hog farm owned by Joey Carter was a nuisance, despite the fact that Carter had always followed and exceeded the state’s laws, invested in modern technologies and responded promptly to any concerns raised by his neighbors.If it can happen to Joey Carter, it can happen to anyone, anywhere,” Curliss said. “There were 75 new houses built after the farm was in place. I ask you: Is that a nuisance?”Pittman said that years ago, there were protections against nuisance lawsuits if a neighbor moved where a farm already existed. However, it wasn’t useful enough for cases involving agriculture, so states began to draft right-to-farm laws in the 1970s, and there are now right-to-farm laws in every state.“This battle used to play out solely in the judicial branch when legislators decided to stand up for agriculture,” Pittman said. “Now you have a court stating that it won’t apply the right-to-farm statutes at all.”Hurst cited the $289 million verdict in the recent lawsuit against Monsanto targeting glyphosate.“This is a problem we all face as farmers,” Hurst said. “Of all the tools we use, there’s nothing safer than Roundup.”Hurst said right-to-farm laws have to be drafted, but it is a back and forth process.“In Missouri we were successful in making changes to nuisance laws by limiting damages, which made a huge difference in the litigation climate,” Hurst said.We have the ability to make changes in state legislatures, said Hurst, but if public perception continues to decline it will be much more difficult.“These things would not be happening without a change in how the public perceives farms and agriculture,” Hurst said. “There’s a real threat to our farms from these lawsuits.“The legal environment is important, and that’s where Farm Bureau makes a difference. We have the ability to lobby and change laws. But if we lose the public’s respect as family farmers, then we lose the ability to make legislative changes.”last_img read more

Tendulkar invites Kerala CM for ISL opening match

first_imgThiruvananthapuram, Nov 2 (PTI) Cricket legend Sachin Tendulkar today met Kerala Chief Minister Pinarayi Vijayan and invited him for the opening match of the Indian Super League season, which will kickstart at Kochi on November 17.Sachin, accompanied by his wife, Anjali, Blasters CEO Varun Tripuraneni, Director N Prasad, met Vijayan at his office at the secretariat here.Kerala Blasters, co-owned by Tendulkar, among others, will meet Atletico de Kolkata (ATK) in the inaugural match at Jawaharlal Nehru stadium at Kochi. “We want CM to be there and support Kerala Blasters. Last season indeed was an exciting one. The team played well. There were some tough times along the way. But that happens in sport. But the team stuck together and there was quality football,” he told reporters after meeting Vijayan. “It is not about winning matches. The brand of football we play, we need to win hearts as well which Kerala Blasters did so well last season. We expect the team to got out and do the same this year”, Tendulkar said. He said Blasters was also training about 1,800 children at the grassroots level, who aspire to play for Kerala Blasters some day. These players are their role models, he said and sought the support of everyone for the team. A government press release said Sachin had also requested the chief minister to provide the services of the Special Battalion for Kochi matches as part of enhancing security during the matches. The seats in the stadium have been decreased due to security concerns. The release said Vijayan assured that he would consider the matter. The chief minister also requested Tendulkar to talk to the Greater Cochin Development authority, which manages the stadium. PTIUD APR SRYadvertisementlast_img read more