World Grain - February 2024 - 10

NEWS REVIEW
Scoular acquires three grain
facilities in Kansas
PRATT, KANSAS, US - The Scoular Co. has acquired three
grain handling facilities from Skyland Grain near Scoular's
Pratt, Kansas, US, shuttle-loader, more than doubling the
company's storage capacity in the region while expanding
market opportunities for area farmers. Financial terms of the
acquisition, announced Jan. 30, were not disclosed.
The facilities in Trousdale, Cullison and Greensburg expand
the company's footprint in central Kansas, where it has
operated a shuttle-loading facility in nearby Pratt for over a
decade. Scoular invested in major upgrades at Pratt, including
boosting unloading speeds and storage, that were completed
in 2022.
Scoular will handle corn, wheat, soybeans, milo and canola
at the newly acquired facilities. The grain will be transported
through Pratt, located on the Union Pacific Railroad mainline,
providing more producers access to markets through Scoular's
extensive supply chain network.
ADM places CFO on administrative leave amid probe
CHICAGO, ILLINOIS, US -ADM announced on Jan. 21
that it had placed Vikram Luthar, the company's chief financial
officer, on administrative leave amid an investigation into
accounting practices in its nutrition segment.
Luthar was placed on leave following a Securities and
Exchange Commission " voluntary " request for documents.
ADM's outside counsel and board audit committee are examining
accounting practices in its nutrition segment. Luthar
was promoted to CFO in April 2022 and has been with ADM
since 2004. Ismael Roig, an executive who was president of
both Europe, Middle East and Africa operations and president
JBS building three feed factories in Brazil
SÃO PAULO, BRAZIL - JBS SA recently confirmed that
it would invest more than 570 million reais ($117 million) to
build three new feed factories in Santo Inácio and Itaiópolis,
Seberi, which are all situated in the southern part of Brazil.
The Brazilian meat processor and multinational food company
said the investments are focused on adapting the supply
of inputs to Seara's current production capacity, which grew
significantly over recent years. Seara is part of the Brazilian
poultry unit for JBS.
With the completion of the factories, JBS expects an increase
of more than 1 million tonnes per year in Seara's feed
production. Additionally, the feed factories will help strengthen
JBS's production capacity for poultry and pork segments
by creating more than 300 jobs.
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10
February 2024 / World Grain / www.World-Grain.com
The acquisition of these facilities also strengthens
Scoular's ability to continue providing 100% of the feedstock
needed by partner Pratt Energy for ethanol production,
the company said.
of animal nutrition at ADM, has been named interim CFO. He
has been with ADM since 2004. Prior to ADM, he spent 11
years with General Motors Corp. in various treasury, finance
and controller positions.
" The board takes these matters very seriously, " said Terry
Crews, lead director, ADM. " Pending the outcome of the
investigation, the board determined that it was advisable to
place Mr. Luthar on administrative leave. The board will continue
to work in close coordination with ADM's advisers to
identify the best path forward and ensure ADM's processes
align with financial governance best practices. "
Photo courtesy of Scoular

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World Grain - February 2024

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