Marubeni and ADM Bolster Export Joint Venture in U.S. Pacific Northwest
September 30 2014 - 11:45AM
Business Wire
Archer Daniels Midland Company (NYSE: ADM) and Marubeni
Corporation (TSE: 8002) announced today that they have expanded
Kalama Export Company LLC (KEC), their joint venture in the U.S.
Pacific Northwest, as a result of Marubeni’s contribution of its
grain export elevator operations at Terminal 5 in The Port of
Portland, Oregon, to Columbia Export Terminal, a subsidiary of KEC.
In connection with the transaction, the parties also intend to
rename KEC as Pacificor, LLC.
KEC, which was formed in 1998 by Marubeni’s subsidiary, Gavilon
Holdings, LLC; ADM; and Agrex, Inc., is engaged in the business of
exporting grains and oilseeds via its grain elevator operation
located in The Port of Kalama, Washington. The Kalama and Portland
grain elevator facilities will continue to operate separately and
maintain separate control of labor relations, but their common
ownership is expected to improve efficiency and achieve more
effective operation of the businesses.
“This action represents another important step in our ongoing
efforts to build ADM’s Agricultural Services value chain from
origination to destination,” said Joe Taets, ADM senior vice
president and president, Agricultural Services. “With the addition
of these export operations to Kalama Export Company, we are further
expanding our network in a capital-effective way.”
“We believe that common ownership of the facilities will
accelerate the parties’ efforts to improve operational efficiency
and effectiveness, which ultimately will enable us to provide
better service to our customers, worldwide,” added Satoshi
Wakabayashi, Marubeni’s Managing Executive Officer, Chief Operating
Officer, Food Material Division.
About Marubeni
Established in 1949, Marubeni is responsible for the handling of
products and provision of services in a broad range of sectors.
These areas encompass importing and exporting, as well as
transactions in the Japanese market, related to food, textiles,
materials, pulp and paper, chemicals, energy, metals and mineral
resources, transportation machinery, and include offshore trading.
The company's activities also extend to power projects and
infrastructure, plants and industrial machinery, real estate
development and construction, and finance, logistics and
information industry. Additionally, Marubeni conducts business
investment, development and management on a global level. For more
information, visit www.marubeni.com.
About ADM
For more than a century, the people of Archer Daniels Midland
Company (NYSE: ADM) have transformed crops into products that serve
vital needs. Today, 31,000 ADM employees around the globe convert
oilseeds, corn, wheat and cocoa into products for food, animal
feed, industrial and energy uses. With more than 270 processing
plants, 470 crop procurement facilities, and the world’s premier
crop transportation network, ADM helps connect the harvest to the
home in more than 140 countries. For more information about ADM and
its products, visit www.adm.com.
Archer Daniels Midland CompanyMedia
RelationsJackie Anderson, 217-424-5413media@adm.com
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