May 9, 2011
CHS sells shares in Brazilian company Multigrain AG to Mitsui (Press Release)
CHS Inc., a leading energy, grains and foods company, announced it has sold its shares in Multigrain S.A., a Brazilian joint venture company with PMG Trading and Mitsui & Co., Ltd., to Mitsui & Co., Ltd., Japan.
"As CHS continues to develop and expand its global capabilities and footprint in agriculture and energy commodities, we are now considering a number of our own business projects and investments in South America," said Mark Palmquist, Executive Vice President and Chief Operating Officer, Ag Business. "We will continue to add shareholder value as we grow our grain origination, logistics, transportation and export capabilities in Brazil."
The company's South American businesses include CHS do Brasil Ltda., with headquarters in Sao Paulo, and CHS de Argentina with headquarters in Buenos Aires, which procure grains and oilseeds for global customers and export from multiple southern Brazil ports.