World Grain - May 2020 - 12

Zen-Noh Grain to acquire 35
Bunge grain elevators
COVINGTON, LOUISIANA, US
- Zen-Noh Grain Corp. (ZCG),
a subsidiary of the National
Federation
of
Agricultural
Cooperative Associations of Japan
(Zen-Noh), has reached an agreement to acquire 35 US interior elevators from Bunge North America,
Inc., a subsidiary of St. Louis-based
Bunge Ltd. The completion of the
sale is subject to customary closing conditions, including regulatory
approval.
"This transaction will allow
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and reinvest in higher returning areas of the company while reducing
costs and strengthening our balance
sheet," said Greg Heckman, chief
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will continue to be an industry
leader in the US grain marketplace
through global grain trading and distribution with our export terminals
in Destrehan, Louisiana, which we
are expanding, and EGT, our joint
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We will also continue our strong
presence in the soybean processing
business and milling operations."
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Enterprises,
Inc.,
Covington,
Louisiana, US, will operate the acquired facilities through its wholly
owned subsidiary, Consolidated
Grain and Barge Co. CGB currently
operates more than 100 grain origination facilities in the United States.
Through certain supply agreements, Bunge said it will be able to
access a larger and stronger origination and distribution network
through Zen-Noh to better serve
American farmers and global export customers.
In addition to the export terminals
in Destrehan and the EGT joint venture, Bunge will retain ownership
in Bunge-SCF Grain, Bunge's joint
venture with SCF, and the Bunge elevators in Indiana that directly support Bunge's soybean processing
plant in Morristown.
www.World-Grain.com / World Grain / May 2020

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11


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World Grain - May 2020

Table of Contents for the Digital Edition of World Grain - May 2020

World Grain - May 2020 - 1
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