November 28, 2011
Marubeni takes full control of Brazil's Terlogs Terminal Maritimo
Marubeni Corp. announced Friday (Nov 25) that it has taken full ownership of Terlogs Terminal Maritimo Ltda., a port terminal operator in Brazil, to streamline its grain shipping business and meet Asia's growing demand.
The total cost of the deal to increase its stake from 25.5%, which was acquired in 2005, is expected to reach several billion dollars.
The major Japanese trader found it necessary to increase its grain supplies from Brazil, an emerging global producer, to meet growing demand from China and Southeast Asian nations, company officials said.
By the full acquisition of the company in the Brazilian state of Santa Catarina, Marubeni hopes to expand its logistics network in Brazil and streamline Terlogs-run operations at the port of Sao Francisco do Sul in the south of the country.
Marubeni is Japan's leading grain trader, handling 20 million tonnes in fiscal 2010 ended in March. It hopes to increase the amount to 25 million tonnes in fiscal 2012, the company said.