ADM sell 50 pc stake in Northern Brazil export terminal

ADM to sell 50 pc stake in Northern Brazil export terminal

10:13 AM, 4th February 2015
ADM to sell 50 pc stake in Northern Brazil export terminal

CHICAGO, US: Archer Daniels Midland Company (ADM) has reached an agreement to sell to Glencore plc, a 50 per cent stake in its export terminal in Barcarena, in the northern Brazilian state of Para. The ADM-Glencore joint venture that will own and operate the facility following the transaction also plans to quadruple the terminal’s capacity from 1.5 million metric tonne to 6 million metric tonne. In addition to its increased capacity, the upgraded terminal will be able to handle larger Panamax vessels, allowing the joint venture partners to connect global markets more efficiently.

“ADM is continuing to take actions to improve our returns on invested capital. One of the ways we’re doing this is by taking an asset-light approach where it makes sense. This agreement will both quadruple the capacity and increase the utilization of this strategically located port facility, enhancing our ability to serve the expanding Brazilian ag sector. And by sharing the investment with a partner, we are able to do all of this in a cost- and capital-efficient way,” said Juan Luciano, CEO, ADM.

 

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