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Brent Esler, CEO
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This year the annual general meeting of CRT will be held at Alexandra on Tuesday 9 August and a formal notice of meeting appears in this edition of Agline. We move these meetings around to provide the board and management with a chance to meet shareholders and staff in different parts of the country. We would very much like to see you there.
We will also be catching up with many shareholders at our series of Main Events scheduled to start in early July. These events, an idea that originated in Southland, have proven to be a very popular concept as we have rolled them out over the South Island. It is another good opportunity for CRT family interaction. It is this spirit within our co-operative I am sure, that has made it one of the highest growth businesses in New Zealand over recent years.
As we go to print our 2011 Annual Report is being finalised and will be in your hands at about the same time as this Agline.
Gulf Oil to launch
Following our announcement earlier in the year advising that CRT had taken the exclusive rights to the Gulf Oil brand in the New Zealand market, we are currently preparing for our offi cial launch from 1 July. We have in the meantime extended our rights to cover both the Australian and Pacific Island markets.
This is a significant opportunity to further expand our potential in the petroleum business – an area that has become one of the largest business units of CRT and has already achieved national scale. With the significant detail work required in establishing this business and to oversee and provide governance over its development, the business is being run as a 100% owned subsidiary of CRT, as ANZPAC Oils Ltd. CRT directors Joe Ferraby (chairman) and Ian Farrant, and myself, are the directors of the company to provide this overview, and the two directors report to the full CRT Board each month with any major decisions to be ratified there.
Few people, shareholders or staff , would appreciate just how far and wide our fuel business now extends – something you are reminded of when you see a CRT Fuel branded tanker in the far North.
In the coming months through Agline, and through divisional reports in the CRT Annual Report we intend to update shareholders on the current state and direction of each of our trading divisions. With there being 10 distinct trading entities in CRT now and a few more specialised divisions within those, there is quite a story to tell to ensure that you as shareholders, and all staff of CRT, have an understanding of the full services off ered by CRT, and equally importantly, the assets you own as shareholders.
The new financial year has started strongly for CRT and with many positive signs for agriculture, we fully expect your co-operative to perform well in the year ahead.