2000+
Elders burst into the new millennium by taking a controlling position in the German wool processor BWK, the world’s second largest wool tops maker with operations in Europe and Australia. Rebranded BWK Elders, it is now a major force in the Australian wool market as a buyer as well as a processor. In the same year Elders expanded into Tasmania, opening its first office there in 2000.
But the biggest step – arguably one of the biggest in the company’s history – was the launch of Elders Rural Bank. The bank can take deposits from all Australians but its credit services are only available to registered primary producers.
This joint venture has made every one of the company’s 400-plus national branch network a banking location to complement its strong Internet focus. The bank has enjoyed significant growth and has established a positive outlook for the future.
In 2001 Elders successfully floated Australian Agricultural Company while retaining a significant shareholding as part of the company’s commitment to its value-adding marketing programs and supply management strategy. Elder House in Adelaide re-opened after a major refurbishment as the business support office for Elders as well as the head office for Futuris.
In 2004 Elders moved to increase its Tasmanian presence with the launch of Elders Webster. Webster, like AACo, is one of Australia’s oldest companies and runs a diversified merchandise, fruit and vegetables and aquaculture business.
Today it has a number of trading divisions and subsidiaries:
- Australian Agricultural Company
- BWK Elders
- Insurance
- Wool
- Livestock
- Real Estate
- Merchandise
- Risk Management
- Grain
- Financial Planning
- Telecommunications (OPEL Networks)
As well as an extensive regional branch network throughout Australia (over 400), it has offices in Germany, Japan, China and Korea.
In 2006, Elders entered into a joint venture with Optus known as OPEL Networks, which was successful in bidding for government funding to build a regional broadband network.
Bendigo and Adelaide Bank bought full ownership of Rural Bank in 2010.
Read more about this topic: Elders Limited