August 3, 2012
CHS Inc. has bought Atman, input distribution and grain origination company in Goias-the third largest producing state of Brazil-through the company's CHS do Brasil entity, as announced on August 1.
"CHS is steadily and strategically expanding its South American grain and crop nutrients business. As part of CHS, Atman will accelerate our growth," said Stefano Rettore, senior vice-president, CHS South America, Sao Paulo, Brazil. "This acquisition will help us further fulfil the CHS aspiration for global commodities expansion by providing expertise in barter operations that are key to the business model in the Brazilian cerrado."
The Atman acquisition rounds out a series of strategic South American business investments CHS has announced in the last six months. In May, CHS announced it had purchased 25% ownership of TCN, a Brazilian logistics company and also signed a long-term agreement with TCN, securing export terminal access at the Port of Itaqui, Sao Luis, Brazil. In July, CHS acquired 50% ownership of Andali, a provider of fertiliser storage and blending services based in Paranagua, Brazil.
"CHS is committed to the long-term growth and development of its commodities business in Brazil and across the region. These investments and the expertise that our partners and new employees bring will help us further add value to our owners," Rettore said.