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Ridley and Huon reach settlement

Ridley Corporation Limited has announced a mutually successful outcome to the mediation process conducted to resolve the commercial dispute between itself and Huon. A payment of AU $16.6 million was made to Ridley last week, while Huon received AU$4.5 million in compensation. Ridley remains committed to the construction of its new aquafeed mill in Tasmania and is optimistic about the prospects of resuming a positive trading relationship with Huon in the future.  

July 27, 2017

Ridley Corporation Limited has announced a mutually successful outcome to the mediation process conducted to resolve the commercial dispute between itself and Huon. A payment of AU $16.6 million was made to Ridley last week, while Huon received AU$4.5 million in compensation. 

Legal costs incurred in reaching the settlement have been progressively expenses in the profit and loss, and Ridley is utilizing the full $1 million provision against non-recovery of the debt. 

Ridley remains committed to the construction of its new aquafeed mill in Tasmania and is optimistic about the prospects of resuming a positive trading relationship with Huon in the future. 

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