AWB says Sept. 11 added to costs but didn't disrupt trade
February 01, 2002
by Chrystal Shannon
AWB Ltd., Australia’s national grain marketing organization, in its 2001 annual report said that it had incurred some extra costs because of the events of Sept. 11 but that the terrorist attacks did not disrupt its trade with the Middle East.
"The events of Sept. 11 have not required a change to sales or shipping programs, but some extra costs in insurance and risk premiums have been incurred," Andrew Lindberg, AWB c.e.o., said in the company’s annual report.
Lindberg said AWB had enjoyed a long relationship with Middle East customers, built over more than 50 years, and was confident of continuing to manage its sales programs to Middle East markets.
"Most of the Middle East looks to the supply of wheat as an issue of national security in a period of international uncertainty," he said. "There is, however, no guarantee of Middle East markets remaining unaffected if disruptions were to occur."
Lindberg also said the company plans to continue to seek overseas opportunities, such as its investment in a new feed manufacturing facility in Egypt.