January 29, 2007

Noble buys grain storage facilities in Brazil

Noble Group, a Hong Kong-based global supply chain manager has acquired grain storage facilities in Brazil for US$18 million.

The facilities would enable Noble to directly originate over 700,000 tonnes of grains and oilseeds every year and develop the group's fertiliser business.

The Brazil acquisition is part of the group's overall expansion strategy in South America.

Noble said it is also expanding capacities in Argentina, Paraguay and Uruguay.