We wish all our shareholders, customers, suppliers and staff all the best for the New Year.
While the general mood of the economy is still characterised by pessimistic optimism, we are satisfied with the overall performance of the CRT business. Parts of our business continue to face significant challenges in these market conditions, but this is balanced by fantastic growth opportunities in others – and this is certainly an advantage because of the reasonable breadth and diversification in the business.
Brent Esler, CRT CEO
Westland Farm Centre Acquisition
CRT has completed negotiations to buy Westland Milk Product’s rural supplies business, including its new Hokitika store and the attached BP service station. This acquisition will complement the existing CRT FarmCentres in Whataroa, Greymouth and Westport, and our agency in Karamea.
The majority of our West Coast business is dairy related, and it is very pleasing to see two co-operatives achieving an outcome that will enhance both companies’ core business areas. Other than the shareholder billing, there will be little change in the operations – all sales staff are retained as are the existing services including the rural mail contract.
Settlement was 1 February 2011 and we would like to compliment the Westland Milk Products directors and management on their decision which was not an easy one, as we know the store has been a long cherished part of the co-operative’s presence on the West Coast. We assure them and their shareholders that CRT will maintain this business in good heart.
CRT to Introduce the Gulf Oil Brand to New Zealand
In another major business development concluded late last year, after several months negotiation, CRT has gained the exclusive rights to the Gulf brand in New Zealand.
The Gulf product range will be introduced to New Zealand during the first half of 2011 and will be offered through our CRT FarmCentres and also marketed nationally through CRT Fuel. This is a very good development for us – we have an exclusive product off er of high-quality oil and associated products that will bring significant price advantage to our shareholders.
Gulf Oil is an iconic global brand with a strong motorsport heritage. Gulf Ford GT40s were victorious at Le Mans in 1968 and 1969, and a Gulf Porsche 917 was the star of the 1970 Steve McQueen Le Mans movie. There is a strong New Zealand connection with New Zealand’s legendary driver and designer/constructor the late Bruce McLaren, the late Denny Hulme and Chris Amon. Some of the early McLaren F1 cars were branded Gulf McLaren, as were the Gulf McLaren CanAm cars raced so successfully by McLaren, Hulme and Amon. Gulf’s successful association with motorsport continues today with their involvement in the Le Mans racing series through the Aston Martin Racing Team. Refer to www.gulfoilltd.com for details.
iCRT Update
For those fortunate enough to have an Apple iPhone or iPad, you need to check out the App Store to download the latest update to iCRT. This type of technology is the future of the CRT Card supplier directory. Not only will it show you by category the nearest suppliers to your current location – it will show you a map and even give you directions of how to get there.After some 28 years since the original development of the PC and 16 years since the internet first became available for commercial use, the current technologies are providing solutions for people virtually anywhere through mobile systems – and best of all, requiring minimal skills in configuration or operation. This has been a long time coming, particularly in the rural sector, but with the emergence of technology and the changing generations of farmers, we at CRT are very mindful of how quickly this could change the way farmers will do business in the future, and how we will interact with our shareholders. There is a whole new world of possibilities.
CRT Events
We are gearing up for a couple of major events on the CRT calendar – the Upper Clutha A&P Show at Wanaka on 11-12 March, and the South Island Agricultural Field Days at Lincoln on 30 March – 1 April. CRT will have major sites at both events and we are looking forward to hosting our shareholders.
We hope to see you at one of these events.