February 27, 2008

Ledesma to partner with Cargill for Argentine corn mill

Ledesma, an Argentine agro-industrial firm, said Tuesday it will team with the US agribusiness, Cargill, for a US$34.3 million corn mill in Argentina.

The plant will be located in Villa Mercedes, in the central province of San Luis. Ledesma's stake would be 70 percent, while Cargill would own the remainder, according to reports.

Ledesma informed the Buenos Aires Stock Exchange that it would contribute to the productive assets of the plant, while Cargill would provide financing.

Argentina is currently the world's second-largest corn exporter, next to the US.