Drought-weakened Namoi Cotton has re-jigged its marketing joint venture with multinational commodities giant Louis Dreyfus Company, effectively giving its partner control of day-to-day management of Namoi’s trading and marketing and warehousing activities.
In what is expected to be the last in a six-month run of sweeping restructuring and staff shedding actions at the NSW-Queensland ginning and marketing company, the latest Namoi business shakeup aims to bolster the trading business’s financial capacity to weather volatile cotton and currency markets.
The Netherlands headquartered Louis Dreyfus, which also has three Australian gins and warehouses of its own, has been a marketing partner and major shareholder in Namoi since 2013 when…
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