The Goulburn Valley Food Co-operative's plans for a factory in Kyabram are on hold.December 12, 2012 4:50am
The Goulburn Valley Food Co-operative has put plans for a processing factory in Kyabram on hold for the time being with the collapse of Banksia Securities Limited contributing to the group’s decision.
In a newsletter to members, co-operative chairman Les Cameron said the group had ‘‘reluctantly’’ made the decision because of difficulties in reaching the financial target needed to have a functioning factory by next May.
‘‘The task was made much more difficult by the collapse of the local Banksia Investment Trust. This affected many in the local community including former Heinz workers who had invested their redundancy payments with Banksia,’’ Mr Cameron said.
‘‘While much of this money will be recovered it will take time and in the meantime the community is both short of accessible funds and, naturally, cautious about making any kind of new investment
‘‘For now at least, raising funds for the new factory has proved to be just that bit too big a challenge for us.
‘‘We simply cannot guarantee the funds needed in time to meet the deadlines we had set for building and equipping the factory.’’
Mr Cameron said the next few months will be used to review the co-operative’s progress and decide what can be done to make the factory happen in the future.
He said Scott Collins, the owner of the proposed Kyabram factory site in Wood Rd, will still construct a building on the site to the original warehouse design.
‘‘He has indicated that he’d be happy to see this converted at a later stage to the kind of factory/food hub we had planned, if and when we are ready to proceed,’’ Mr Cameron said.
‘‘The work so far is far from a failure and it will continue.’’
Two teenage boys have been arrested following a series of traffic incidents in Shepparton last night.
Fine weather and a strong number of athlete registrations will ensure this weekend’s Yarrawonga Mulwala Multisport Festival is another huge success.
The fifth annual King Billy Retreat Open Garden Party will be held at Rushworth on Saturday and Sunday, October 25-26, from 10 am to 4 pm.
The head of the Building Designers Association of Victoria has big plans for the association.
St Joseph’s Primary School students have been preparing their push carts ahead of next month’s KidZcapers.
KCLC supported Southern Processing win award
Members celebrate over the weekend.
Berrigan Shire was this week approved for a low interest loan from the state government to undertake flood mitigation works.
Frank Hill is thrilled with his repaired 1948 grey Fergie.
As weather warms, so does car theft; Cobram police urge drivers to lock parked vehicles.
Deniliquin McDonald's raised more than $1300 for McHappy Day on Saturday.
The latest in stone and pome fruit research and development will be the focus of a forum at the Horticulture Centre of Excellence at Tatura tomorrow, Wednesday, October 22.
Lions Benalla donates $1200 to buy a bar code reader for Lorraine Billman who will soon be able to go shopping without her husband.
Discover unbelievable local deals from local businesses every week in the Goulburn and Murray Valley area with Leapon.com.au!
Search properties for sale or rent across North Central Victoria and Southern NSW. Visit your local website for local homes....
Search for published and unpublished photos from McPherson Media Group newspapers and magazines. All our photos are available to purchase.
Place an advertisement in any one of McPherson Media Group's local newspapers.