St. Paul / MN. (chs) CHS Inc., the United States´ leading farmer-owned cooperative, announced it has purchased 25 percent ownership of TCN, a recently-formed Brazilian logistics company founded by NovaAgri, Sao Paulo, Brazil. NovaAgri will own 75 percent of TCN shares. In addition to the ownership investment, CHS also signed a long-term agreement with TCN, securing export terminal access at the Port of Itaqui, Sao Luis, Brazil.
«This major and strategic investment gives CHS competitive access to the fastest growing region of Brazil and further strengthens our ability to supply soybeans and corn to global customers», says Stefano Rettore, senior vice president, CHS South America, Sao Paulo, Brazil. «We believe demographics and income growth, especially in developing economies, means the world demand for soybeans and corn will increase. This partnership fits into CHS aspirations to expand our global commodities footprint to meet growing demand and to continue to add value to our member-owners´ investment».
Infrastructure development at the Port of Itaqui is expected to greatly improve market access for Brazilian growers by reducing significant logistical bottlenecks and, Rettore says, increased exports will also improve Brazil´s trade balance.
In October 2011, TCN was awarded the right to construct one of four export terminals in the Port of Itaqui, in the north-eastern Brazilian state of Maranhao on the Atlantic Ocean. Construction will begin in August 2012, with completion expected during the second half of 2013.
About NovaAgri
Founded in 2008, NovaAgri is a national provider of integrated logistics, serving the Brazilian soft commodities sector. Through the ownership and operation of integrated infrastructure facilities including ports, grain elevators and silos, NovaAgri provides logistical solutions and services to a wide array of clients.
About CHS
CHS Inc. is the nation´s leading cooperative, owned by farmers, ranchers and co-ops across the United States. A diversified global energy, grains and foods business and a Fortune 100 company, CHS is committed to helping producers and member cooperatives grow their businesses through its domestic and global operations. CHS supplies energy, crop nutrients, grain marketing services, livestock feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes refined fuels, lubricants, propane and renewable energy products.
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Döhler announces strategic partnership with Nukoko
- Starbucks: Expands Global Effort to Protect Future of Coffee
- Grain + Co.: Satellites help Paulig to grow tasty food
- Paulig: announces partnership for more sustainable wheat
- Cargill: 50% of the SK canola processing plant is complete
- Nigeria: Flour Mills and Bühler open center for local grains
- CHS and Grand Farm collaborate to answer important questions
- Lantmännen: announces large-scale fossil-free food production
- Bunge Global SA: sells its stake in JV in Brazil to BP
- Lantmännen Cerealia: Climate targets now SBTi validated
- Puratos: opens new «Sourdough Institute» in Belgium
- Sweet proteins: Grupo Bimbo uses Oobli’s sugar alternative
- Brenntag: wins »Best Ingredient Innovation Award«
- Paulig Group: invests in agtech startup OlsAro
- Bunge Chevron: to Build New Oilseed Processing Plant
- Bunge Limited: Unveils Cocoa Butter Equivalent
- Sucro: Plans New Cane Sugar Refinery in Chicago
- Paulig aims to reduce climate impact of its wheat by 35%
- Cargill: the first global edible oil producer to meet WHO standard
- Chipotle: Invests In Agricultural Robots And Climate-Smart Fertilizer