Lang
Cargill has taken full ownership of a soybean crushing, refining and packaging plant it had operated under a lease agreement since 1998 in the city of Barreiras, Bahia state, Brazil, strengthening its operations in the world's largest producer and exporter of soybeans.
The Barreiras plant provides jobs for about 250 people and produces soybean meal (in bulk and bagged), pressed soybean hulls, degummed crude oil and refined oil (in bulk and packaged under the "Liza" brand). Financial terms were not disclosed in the announcement issued on 17 June.
Paulo Sousa, Cargill's country head for Brazil and head of Latin America agricultural supply chain business, said: "We are very pleased to have acquired the Barreiras plant. This move aligns with our growth strategy and strengthens our operations in the region, allowing us to continue investing to serve our customers in the domestic market as well as the global soybean meal market."
Over the past five years, Cargill said it has invested 8.1 billion Brazilian reais ($1.5 billion) in its Brazilian operations, which include 29 plants, 75 warehouses, seven port terminals, two innovation centres, one shared services centre, five distribution centres, 14 commercial offices and four administrative offices.
Last May, Cargill won an auction to lease a port terminal in Paranaguá for 35 years with a bid of $72.4 million.
In February, the company acquired the remaining 50% stake in SJC Bioenergia, becoming its sole owner, and renamed it Cargill Bioenergia, with units in Querópolis and Cachoeira Dourada.