World Grain - August 2022 - 65

WORLD GRAIN ARCHIVE
1992
Hubertus Spierings has been named
chairman of the board of Cargill
International SA (CISA) and chief
executive officer of the company's
Geneva, Switzerland, branch. CISA
is responsible for a significant part
of Cargill's commodity training, including
the company's international
feedstuffs and petroleum, and all
ocean freight activities. Spierings
had been vice chairman and chief
operating officer of CISA since
1987.
2002
The European Bank for Reconstruction
and Development (ERBD) is
providing an $80 million revolving
credit facility to Alfred C. Toepfer
International, a subsidiary of the
Hamburg, Germany-based agricultural
commodities trading company
Alfred C. Toepfer International
Group. Of that total, $32 million
is being syndicated to commercial
banks Hamburgische Landesbank,
Rabobank, Raiffeisen Zentral Bank
Osterreich AG and Verins- und
Westbank. The financing will help
Toepfer Ukraine to expand its growing
grain business in Ukraine and to
develop Ukrainian exports of agricultural
commodities. The company
also will implement a seasonal supply
chain financing scheme with
one of the Ukraine's leading food
processors, Chumak. Hans Christian
Jacobsen, the ERBD's director
of agribusiness, said he hoped Toepfer's
commitment would attract
other prominent international agribusiness
companies to Ukraine.
Bunge Ltd. has announced it will
acquire a controlling stake in Cereol
SA, a leading French oilseed
processor, from Edison SpA. The
deal will make Bunge the world's
leading oilseed processor, with integrated
operations across key geographic
regions. In 2001, Bunge,
the largest soybean processor in
the Americas, reported net sales of
$11.5 billion and operating income
of $527 million.
Associated
British Foods PLC,
UK, announced plans to acquire for
A$160 million the 18.75% of the
capital shares of George Weston
Foods Ltd. that it does not already
own. If approved by the minority
shareholders, George Weston Foods
would become a wholly owned subsidiary
of ABF and its shares would
be
delisted
from
the
Australian
Stock Exchange in late September.
George Weston Foods is a major
processor and distributor of food
in Australia and New Zealand. Its
operations include the Tip Top and
Weston's baking businesses and
Weston Milling.
2012
Associated
British Foods PLC
(ABF) announced on July 6 the
acquisition by Westmill Foods of
Elephant Atta and smaller related
ethnic flour brands from Premier
Foods PLC. Elephant Atta was established
in 1962 and is the leading
ethnic flour brand in the UK.
The brand is sold in a variety of
medium, self-raising white, brown,
and wholemeal flour and is used to
make chapatti and other unleavened
flatbreads for daily consumption.
Premier Foods will continue to mill
and package the flour and the brands
being managed independently from
Westmill Foods until regulatory approval
is obtained.
Sodrugestvo Group SA announced
on July 2 an agreement in which
Mitsui & Co., Ltd. has become a
10% shareholder in Sodrugestvo.
The companies will become strategic
partners in some of their respective
business activities. Mitsui's
10% stake in Sodrugestvo
is based on an enterprise value of
approximately $2.2 billion. In conjunction
with the share purchase by
Mitsui, the two global companies
have signed a strategic agreement
World-Grain.com / World Grain / August 2022
whose main elements include: an
alliance in the origination, export
and marketing of grain from Russia
and other former Soviet Union
countries; support for Mitsui's participation
in the feed and livestock
business in Russia and other Soviet
Union countries where demand for
and production of meat have been
growing; and a collaboration in the
soybean origination, processing and
distribution business in Brazil between
Sodrugestvo's Alianca joint
venture and Mitsui's Multigrain
farming and logistics subsidiary.
Construction started in July on the
new O.H. Kruse Technology Innovation
Center at Kansas State University
(KSU), Manhattan, Kansas,
US. The facility is being built within
the Department of Grain Science
and Industry Complex on the KSU
campus and will be co-managed by
the Grain Science and Industry Department
and the Department of Animal
Sciences and Industry. It will
be home to the university's Feed
Science and Management program
and will provide for all the research
diets needed by the Department of
Animal Sciences and Industry on its
livestock research farms. Substantial
emphasis has been placed on
the capability to conduct research,
teaching and outreach training on
food and feed safety and biosecurity
issues related to animal agriculture.
Cargill announced on July 20 that
it completed a $25 million modernization
of its Hales Point, Tennessee,
US, grain elevator in time for
the fall corn and soybean harvest.
Because of its enhancements, the
number of trucks that are unloaded
each hour will significantly increase,
which in turn will reduce the
wait time at the peak of harvest. On
the other end of the system, Cargill
also will be faster in loading barges
destined for export facilities and the
export market. A grand opening was
held July 19.
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World Grain - August 2022

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