Reshuffle for Banks group operations

4 July 1997




Reshuffle for Banks group operations

FOLLOWING a number of acquisitions in the past 12 months, Sydney C Banks has announced a major reshuffle of its operating structures.

lBanks Southern will combine the businesses of Banks Doltons and Usborne Grain. Trading activities will be based at Andover, with retailing at Newbury.

lGleadell Banks, in which the company has a 50% stake, will combine the interests of Wm Gleadell and Banks Agriculture in Lincolnshire, plus Usborne Grain in Yorkshire.

lBanks Agriculture will remain at Sandy and will incorporate the recently acquired Usborne Grain Sleaford office.

lUsborne Grain will specialise in imported milling wheat, based at Andover.

lWells Agriculture will operate as before from Edwalton, Notts.

The restructuring also touches the cereal processing business, with Micronised Food Products, at Northallerton, to be expanded and the recently-acquired Charles E Ford at Avonmouth to be closed.

"The Banks Group has strengthened its position enormously," said joint managing director, Richard Banks. "We have extended our trading area, gained access to a deep-water port and strengthened our role in cereal processing." &#42


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