Knobby22
Mmmmmm 2nd breakfast
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I thought I would start a new thread that showed hard nosed businessmen making tough decisions because they understand we are undergoing climate change. If you see a decision like this please post it.
First one below:
Climate drives big wine deal Andrew Darby
August 17, 2010
VICTORIAN winemaker Brown Brothers has outlined critical environmental reasons behind its $32.56 million purchase of Gunns' wine assets in Tasmania.
Chief executive Ross Brown said the move south was spurred by global warming, and after deciding that the controversial $2.2 billion Gunns pulp mill project's effect on Tamar Valley vineyards would be benign.
Brown Brothers has bought 400 hectares over three vineyards, which produce about 3000 tonnes of fruit marketed under seven brands.
It has subcontracted to manage Gunns' wine grape managed investment schemes that Mr Brown said were ''totally interwoven'' in the business.
He said the Milawa, Victoria-based Brown Brothers had been considering for some time how to deal with climate change.
''Until recently, we had always thought we were drought proof in north-east Victoria.'' But he said higher temperatures and bushfires encouraged the 120-year-old company to source grapes from cooler areas.
''We want to position ourselves to combat global warming.''
CSIRO climate change models show much of Tasmania to be slightly warmer, but also wetter, in decades to come.
The shift puts Brown Brothers slightly ahead of the pack, according to wine writer Huon Hooke.
''A lot of people in the industry are thinking about this, but few have actually acted on it,'' Mr Hooke said.
Brown Brothers also examined the effect of the proposed Tamar Valley pulp mill on its purchase.
Non-Gunns winemakers in the valley have been at the forefront of opposition to the mill, fearing air and water pollution, as well as damage to the district's image.
''We're comfortable about the pulp mill,'' Mr Brown said. ''Having examined all the environmental regulatory requirements, we believe it's very benign.''
Gunns' sale of the wine assets comes as the company refocuses on its timber businesses and relieves debt.
In recent months, Gunns has sold its hardware stores to a Woolworths subsidiary for about $40 million, and 28,000 hectares of Tasmanian native forest for $27.5 million, mainly to retail entrepreneur and philanthropist Jan Cameron.
The shedding of these businesses continues a broad restructure, and Gunns said that its final result tomorrow would be a $28 million profit.
This compares with $56 million in 2008-9, but follows a half-year to December 31 of just $400,000, which sent its share price into a tailspin that bottomed at 26 ¢ in May.
Gunns closed up 1 ¢ at 62 ¢, after touching 64.5 ¢ yesterday.
First one below:
Climate drives big wine deal Andrew Darby
August 17, 2010
VICTORIAN winemaker Brown Brothers has outlined critical environmental reasons behind its $32.56 million purchase of Gunns' wine assets in Tasmania.
Chief executive Ross Brown said the move south was spurred by global warming, and after deciding that the controversial $2.2 billion Gunns pulp mill project's effect on Tamar Valley vineyards would be benign.
Brown Brothers has bought 400 hectares over three vineyards, which produce about 3000 tonnes of fruit marketed under seven brands.
It has subcontracted to manage Gunns' wine grape managed investment schemes that Mr Brown said were ''totally interwoven'' in the business.
He said the Milawa, Victoria-based Brown Brothers had been considering for some time how to deal with climate change.
''Until recently, we had always thought we were drought proof in north-east Victoria.'' But he said higher temperatures and bushfires encouraged the 120-year-old company to source grapes from cooler areas.
''We want to position ourselves to combat global warming.''
CSIRO climate change models show much of Tasmania to be slightly warmer, but also wetter, in decades to come.
The shift puts Brown Brothers slightly ahead of the pack, according to wine writer Huon Hooke.
''A lot of people in the industry are thinking about this, but few have actually acted on it,'' Mr Hooke said.
Brown Brothers also examined the effect of the proposed Tamar Valley pulp mill on its purchase.
Non-Gunns winemakers in the valley have been at the forefront of opposition to the mill, fearing air and water pollution, as well as damage to the district's image.
''We're comfortable about the pulp mill,'' Mr Brown said. ''Having examined all the environmental regulatory requirements, we believe it's very benign.''
Gunns' sale of the wine assets comes as the company refocuses on its timber businesses and relieves debt.
In recent months, Gunns has sold its hardware stores to a Woolworths subsidiary for about $40 million, and 28,000 hectares of Tasmanian native forest for $27.5 million, mainly to retail entrepreneur and philanthropist Jan Cameron.
The shedding of these businesses continues a broad restructure, and Gunns said that its final result tomorrow would be a $28 million profit.
This compares with $56 million in 2008-9, but follows a half-year to December 31 of just $400,000, which sent its share price into a tailspin that bottomed at 26 ¢ in May.
Gunns closed up 1 ¢ at 62 ¢, after touching 64.5 ¢ yesterday.
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