World Grain - August 2018 - 15
ADM, Cargill launch SoyVen in Egypt
CHICAGO, ILLINOIS, U.S. - Archer
Daniels Midland Co. (ADM) and Cargill announced on July 2 that they have successfully completed their transaction and formally
launched SoyVen, a new joint venture to
provide soybean meal and oil for customers
SoyVen owns and operates the National
Vegetable Oil Co. soy crush facility in Borg
Al-Arab, along with related commercial and
functional activities, including a separate
Switzerland-based entity supplying soybeans to the Egypt crush plant. The plant's
daily crush capacity has been doubled to
6,000 tonnes to meet increasing Egyptian
demand for higher-protein soybean meal and
for oil, reducing the need for imports.
The new company, which will function as an independent entity, is headed by
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previously held global management positions in Cargill's malt and grains and oilseeds businesses.
"By bringing together the strengths and
capabilities of both Cargill and ADM in
Egypt, this joint venture is uniquely posiWLRQHG WR PHHW VSHFL¿F FXVWRPHU QHHGV LQ
the growing Egyptian market," Ertürk said.
"The demand for high-quality soybean meal
and for oil from both the food manufacturing
and animal feed sectors continues to rise and
as the premier provider in Egypt."
the two companies on Feb. 26. It consists of
ADM and Cargill each holding a 50% interest, with the management team reporting to a
board of directors appointed by the two parent companies. The joint venture's assets do
not include Cargill's grain business and port
terminal in Dekheila, or the ADM-Medsofts
joint venture at the Port of Alexandria. Each
company will continue its separate business
activities in the country and region.
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in Cairo and Borg Al-Arab in Egypt, as well
Land O'Lakes hires new leader
Ford has been named president and chief exHFXWLYHRI¿FHURI/DQG2¶/DNHV,QFHIIHFWLYH
Aug. 1. She succeeds Chris Policinski, who
has led the company since 2005. Policinski announced his retirement in June.
Ford was most recently COO for Land
O'Lakes Businesses, a role she assumed in
December 2017. Before that, she was head
of the company's Dairy Foods and Purina
Animal Nutrition businesses. Ford joined
Land O'Lakes in 2011 as executive vicepresident of supply chain and operations.
Before that, Ford was head of supply chain
for International Flavors and Fragrances and
held various roles at PepsiCo, Inc.
"At a time of unprecedented change in the
agriculture and food industries, no person is
better suited to lead us into the future than
Beth Ford," said Pete Kappelman, chairman
of the Land O'Lakes board. "Since joining
our company in 2011, Beth has proven she's
not afraid of hard work and she sees every
challenge as an opportunity to deliver more
value for our cooperative."
www.World-Grain.com / World Grain / August 2018