May 11, 2012
Two of the world's leading farmer-owned cooperatives, CHS Inc., St. Paul, Minn.; and Zen-Noh, Tokyo, Japan announced CHS has acquired 51% of joint venture company CZL Ltd.
CZL Ltd will supply commodities, primarily wheat and barley, sourced in the US, Canada and Australia, to Japan - the top global destination for wheat and barley imports. The joint venture will be managed from the CZL office in Tokyo.
"This formal agreement strengthens CHS role in adding value to member-owners grain by aligning with these trusted partners in an important Asia Pacific market."
Browne says this partnership is particularly significant for CHS shippers and growers sending grain from the Midwest and Pacific Northwest to export terminals in Kalama and Tacoma, Washington, and Portland, Oregon.
"Strategically aligning grain origination with growing consumer demand is core to our continued global commodities expansion on behalf of our cooperative owners," Browne said.