Archer Daniels Midland Company (ADM) and Cargill have reached an agreement to launch a joint venture (JV) to provide soybean meal and oil for customers in Egypt.
The JV would own and operate the National Vegetable Oil Company soy crush facility in Borg Al-Arab along with related commercial and functional activities, including a separate Switzerland-based merchandising operation that would supply soybeans to the crushing plant.
The companies are expecting to formally launch the joint venture in mid-2018.
Cargill is currently expanding the plant from 3,000 metric tons to 6,000 metric tons of daily crush capacity. The plant will be able to produce higher-protein soybean meal while reducing the need for soybean meal imports into Egypt.
The JV will be managed as a standalone entity consisting of equal ownership by ADM and Cargill, with a management team reporting to a board of directors appointed by the two parent companies. The joint venture’s assets will not include Cargill’s grain business and port terminal in Dekheila, or the ADM-Medsofts joint venture at the Port of Alexandria. Each company will continue its separate business activities in the country and region.
Archer Daniels Midland Company (ADM) and Cargill have reached an agreement to launch a joint venture (JV) to provide soybean meal and oil for customers in Egypt.
The JV would own and operate the National Vegetable Oil Company soy crush facility in Borg Al-Arab along with related commercial and functional activities, including a separate Switzerland-based merchandising operation that would supply soybeans to the crushing plant.
The companies are expecting to formally launch the joint venture in mid-2018.
Cargill is currently expanding the plant from 3,000 metric tons to 6,000 metric tons of daily crush capacity. The plant will be able to produce higher-protein soybean meal while reducing the need for soybean meal imports into Egypt.
The JV will be managed as a standalone entity consisting of equal ownership by ADM and Cargill, with a management team reporting to a board of directors appointed by the two parent companies. The joint venture’s assets will not include Cargill’s grain business and port terminal in Dekheila, or the ADM-Medsofts joint venture at the Port of Alexandria. Each company will continue its separate business activities in the country and region.
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