AWB Limited and Elders (a wholly owned subsidiary of Futuris Corporation) announce that the ELF Australia joint venture has acquired BHP Billiton’s 33% shareholding in Hi-Fert for an undisclosed sum.

The acquisition will give ELF 100% ownership of Hi-Fert.  ELF is a 50/50 joint venture of Landmark and Elders.  Hi-Fert will continue to distribute MAP and DAP fertilizers sourced from Southern Cross Fertilisers (a subsidiary of BHP Billiton) under a revised supply agreement.

Contact:

• Peter McBride, AWB Limited, on (03) 9209 2174 or 0417 662 451
• Don Murchland, Futuris Corporation Limited, on 0439 300 932