The joint venture between Genetics Australia and URUS has been formally approved by the Registrar of Co-operatives and will operate from July 1.
The new JV entity that will be formally known as Genetics Australia Holdings Pty Ltd but will continue to trade simply as Genetics Australia.
Genetics Australia chairman Trevor Henry said in the short term, there will be no major changes.
“However, in the long-term we envisage that that JV will lead to many benefits and access to an expanded range of products and services, including the full suite of GENEX products and access to the PEAK breeding program. This is great news for our members and the Australian industry,” Mr Henry said.
“The TLG brand will also remain prominent for both our services and with the TLG semen portfolio.
“The JV received overwhelming support from members with 94 per cent of votes being in favour of the ‘Special Resolution’. We thank every member that took the time to consider this proposal and all those who had the confidence to back the board’s vision for the future.
“We’re working hard as a team to make sure there will be a smooth and exciting transition to the new entity from July 1.
“There’s a lot to do but we’re confident we can make it happen by July 1 and create a brighter and exciting future for our co-operative and all our members.”