CHS and Ruralco From Agfarm Joint Venture
Date Posted: July 30, 2013
St. Paul, MN—CHS Inc. (NASDAQ: CHSCP), the nation's leading farmer-owned business and a global energy, grains and foods company, announced July 28 it has invested in Agfarm, an Australia-based grain origination and marketing company.
CHS and Ruralco Holdings Limited (Ruralco), Sydney, Australia, will each own 50 percent of Agfarm.
The Agfarm name and management structure will not change.
"CHS is committed to investing for the long term in the Australian market, so that Agfarm growers benefit from even stronger connections to the growing, global demand for high quality grains and oilseeds," said Rick Browne, CHS Ag Business, senior vice president, Asia-Pacific.
"This partnership aligns with CHS strategic growth initiatives that add value to member-owners by competitively linking global producers with buyers and consumers."
Agfarm has 38 employees in eight offices in Australia.
Agfarm founder Bob McKay will continue to serve the organization as chief executive officer.
For more information, call 651-355-5126.