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It would be hard to argue against Bunnings being the jewel in WES crown.

 

Now Amazon is setting up an online ' outdoor leisure & gardening' biz in Australia

https://www.businessinsider.com.au/amazon-i...in-store-2019-9

 

Will this finally clip Bunnings, both at growth and margins? I suspect somewhat, but the wish fulfilment of turning up and taking the stuff, bulky to boot, away still has an attraction to many. Especially as this sort of discretionary retail activity is secondary, not front of mind, most of the time.

 

The " beat it by 10%" bait may be revisited, though.

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Wesfarmers underpays workers $15 million in second incident in a week

Australia's largest retail conglomerate Wesfarmers has blamed another payroll error for underpaying workers $15 million just days after the company revealed a similar issue at its hardware retailer Bunnings.

 

In a statement on Tuesday, Wesfarmers said that it found the mistake when it was updating its payroll system, causing about 6000 current and former team members in its industrial and safety division to have been underpaid since 2010.

 

The issues affect staff at retailer Blackwoods, workwear manufacturer Workwear Group, industrial gas supplier Coregas and health and safety management company Greencap.

 

The $15 million figure largely relates to the underpayment of certain allowances and entitlements, and superannuation related to car allowances.

 

Wesfarmers follows jewellery chain Michael Hill, apparel retailer Sunglass Hut, automotive and sports retailer Super Retail Group and celebrity chef George Calombaris in the ranks of companies that have underpaid workers millions in recent months.

read more - https://www.smh.com.au/business/companies/w...001-p52wmb.html

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Joe Lowry's comments on the AFR article - Wesfarmers revs up for lithium plant after Tesla visit https://www.afr.com/companies/manufacturing...20191003-p52xee

 

Joe Lowry@globallithium

15h15 hours ago

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Welcome to the #lithium world @Wesfarmers-you will need to come up to speed quickly. Meeting $TSLA is something every newbie does. Working âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“withâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ $SQM is almost a contradiction in terms. Donâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢t get me wrong, SQM is one of the few Li stocks I hold. Good Luck

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Definitely in the WES Chemical, Energy and Fertiliser announcement, recently, they used quite a few slides to explain the Kwinana complex (with an unstated wish the new bits would slot in well)

Wesfarmers was focused on planning for decisions around building a lithium concentrator at the Mt Holland mine near Southern Cross, and the hydroxide plant.

....and I presume there are a few lessons learnt from Tianqi's failed plant, next door?

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I think Joe was a bit cynical re WES talking up "Tesla" in the KDR deal - every one in BM space uses Tesla in their marketing.

 

23 September 2019

Completion of Kidman Resources acquisition

Wesfarmers (ASX:WES) today announced the implementation of the Scheme of Arrangement under which

Wesfarmers Lithium Pty Ltd, a wholly owned subsidiary of Wesfarmers Limited, has acquired all of the

issued ordinary shares in Kidman Resources (ASX:KDR).

 

With the completion of the transaction, Wesfarmers holds a 50 per cent interest in the Mt Holland lithium

project based in Western Australia in joint venture with Sociedad Quimica y Minera de Chile S.A. (SQM),

one of the worldâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s largest producers and marketers of lithium products.

 

Managing Director Rob Scott said Wesfarmers was pleased to welcome Kidman team members joining the

Wesfarmers Group today and looked forward to working with SQM and the management team at the

Mt Holland project joint venture company, Covalent Lithium.

 

âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“This acquisition and our planned future investment is an attractive opportunity to participate in the

development of a large-scale, long-life and high-grade lithium hydroxide project in Western Australia in

partnership with a global leader in the lithium industry,âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ Mr Scott said.

 

âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“It leverages and builds on the existing strengths and chemical processing capabilities within our

Chemicals, Energy and Fertilisers business, while supporting Western Australiaâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s ambition to become a

global hub for downstream lithium processing.âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ÂÂ

 

The cash payment of $1.90 per share to be paid to Kidman shareholders today has been funded from

Wesfarmersâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢ existing banking facilities. Kidman will apply to be removed from the official list of the ASX

which is expected to be from the close of trading tomorrow 24 September 2019.

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Hardware giant Bunnings has made a small bolt-on acquisition in South Australia as part of its strategy to attract more trade customers, entering into an agreement to acquire leading South Australian retailer, Adelaide Tools.

 

The price of the acquisition has not been disclosed.

 

Adelaide Tools is a 70-year-old family-owned and operated business serving trades and high-end DIY enthusiasts through five Adelaide stores located at Oaklands Mower Centre. It also has an online offering more than 8000 products.

 

Bunnings managing director Mike Schneider said Adelaide Tools was a quality business with a great team, premium brands and a reputation for great customer and after sales service.

 

âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“The acquisition, which is subject to regulatory approval, will allow us to improve the way we connect, serve and engage with trade customers and is aligned with our strategy to accelerate the growth of the trade business,âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚ Mr Schneider said.

 

âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“The business will continue to operate as Adelaide Tools and will give Bunnings insight into the dynamics of the trade specialist market. âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“While our businesses are very different, we see strong alignment between the Adelaide Tools and Bunnings brands with both businesses having a strong focus on team, advice and service. We believe this acquisition will deliver even more choice and convenience for trade customers."

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One year after the demerger of Coles from Wesfarmers, shareholders in both companies are $16 billion richer, vindicating the conglomerate's decision to spin out the food and liquor retailer into a separately listed company.

 

Wesfarmers shares have risen 32 per cent since the demerger to $42.45 and Coles shares have risen 25 per cent to $15.61 since it listed on the ASX on November 21 last year..

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Following review of the DFS, Wesfarmers and SQM have agreed to undertake additional work which will result in the deferral of the final investment decision on the Lithium project to the first quarter of calendar year 2021.

 

Key actions include:

âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚¢ conducting further work to optimise project design to reduce capital and operating costs

âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚¢ exploring opportunities to improve utility and infrastructure solutions for the project

âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚¢ investigating initiatives to further leverage WesCEFâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s existing capabilities including by providing shared services and reducing operating costs

âââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’‚¢ ongoing discussions with key customers to ensure product specifications are aligned with continued changes in battery chemistry

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