World Grain - May 2008 - 12
newsreview
Cargill opens new wheat-processing plant
MANCHESTER, ENGLAND - Cargill announced on April 10
that it has opened a new wheat-processing plant at Trafford Park,
Manchester, England that is set to process around 750,000 tonnes
of wheat per year.
The company invested about £75 million ($147 million) to convert the plant from processing imported maize to domestic wheat.
Cargill plans to use the wheat to provide a wide range of products
for the food industry, including sweeteners, proteins and texturisers
for the baking industry sector and high quality feed ingredients for
the dairy sector.
"The advantages of producing sweeteners from wheat, a re-
duced complexity of operation, efficiencies in milling, and superior economies
of scale allows Cargill to become the
most competitive producers of sweeteners, effectively meeting customers product and supply requirements wherever they are," said Frank van Lierde of Cargill's European sweeteners business. "This strategy was designed to best
address the growing needs of our customers both in the U.K. and
Ireland, and across Europe in providing them with the right choice
of quality products at competitive prices to service their own local
manufacturing needs."
CHS posts record six-month earnings of $468.9 million
ST. PAUL, MINNESOTA, U.S. - CHS Inc. on April 9 reported record
earnings for the first half of its 2008 fiscal year of $468.9 million, an increase of 113% from $220.1 million for the same period in fiscal 2008.
Also a record, total revenues for the first two quarters of fiscal 2008
(Sept. 1, 2007-Feb. 29, 2008) were $13.4 billion, up 79% from $7.5 billion for the same period of 2007. CHS said the revenue increase was
primarily attributed to record prices for the grain, refined fuels and crop
nutrients products CHS markets.
Net income for the second quarter of 2008 (Dec. 1, 2007-Feb. 29,
2008) was $168 million, up 101% from $83.7 million in the second
quarter of fiscal 2007. Revenues for the quarter were $6.9 billion, up
86% from $3.7 billion the previous year.
CHS said earnings through the second quarter reflect record results
for the company's Ag Business segment, including grain marketing, crop
nutrients and retail operations, and were driven largely by strong global
prices and demand.
Earnings were ahead of fiscal 2007 within the company's Processing
segment, consisting of its own oilseed processing, along with joint venture food manufacturing and flour milling operations and ownership in
renewable fuels manufacturing.
ah�
For more information, see Page 82.
12
May 2008 / World Grain / www.World-Grain.com
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World Grain - May 2008
Table of Contents for the Digital Edition of World Grain - May 2008
Contents
World Grain - May 2008 - 1
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World Grain - May 2008 - 3
World Grain - May 2008 - Contents
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https://digital.world-grain.com/sosland/wg/world-grain-december-2024
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https://digital.world-grain.com/sosland/wg/world-grain-december-2022
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https://digital.world-grain.com/sosland/wg/world-grain-january-2022
https://digital.world-grain.com/sosland/wg/world-grain-december-2021
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https://digital.world-grain.com/sosland/wg/world-grain-october-2021
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