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Lindsay Australia (ASX:LAU) signs new distribution agreement with Visy

Industrial
ASX:LAU      MCAP $293.6M
26 June 2020 16:40 (AEST)
Lindsay Australia (ASX:LAU) - CEO & Managing Director, Kim Lindsay

Source: CEO Magazine

Transport, logistics and rural supplier Lindsay Australia (LAU) has signed a new distribution agreement with the Visy Board.

This agreement extends an already solidified strategic partnership that began in 2014. This agreement extension will become effective on January 1, 2021, until January 1, 2026.

“Our partnership with Visy is critical to meeting our customer’s needs across logistics, packaging and rural service proposition,” Managing Director Kim Lindsay said.

Visy was established in Melbourne in 1948 and has since become a world-leading privately-owned paper, packaging and recycling company.

The extended agreement will see Visy continue to supply corrugated packaging products. This further supports Lindsay Australia’s broad product and service offering to its horticultural customers.

Lindsay is closely aligned to agriculture and provides end-to-end solutions for Australia’s primary producers. It services can include direct farm pick-ups, delivering to produce and fish markets and distribution warehouses covering all types of refrigerated and frozen product.

“Visy enjoys a strong relationship with Lindsay’s and we are pleased this will continue for a further five years,” Visy Peter Lloyd said.

Company shares are up 2.94 per cent and are trading for 35 cents each at 11:55 am AEST.

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