US, Japan, Invest in Brazilian Joint Venture
14 October 2008 US-based CHS Inc. — the largest US producer-owned cooperative and a leading energy, grains, and foods company — announced that it has invested an additional US $76.25 million in Multigrain AG, a diverse Brazilian agricultural joint venture company. CHS total cash investment in Multigrain is now $134.5 million.
Japanese firm Mitsui & Co. Ltd., a full-service trade and industrial development enterprise, has invested an additional US $123.7 million in Multigrain in response to capital needs resulting from an expansion of Multigrain’s operations in Brazil, for a total company investment of US $210 million. As a result, CHS and Mitsui each own 39.35% of Multigrain, with the remainder held by PMG Trading of Brazil.
Multigrain, formed in 2006, is a major supplier of grain to the global marketplace from both domestic and key international sources. The additional capital will allow Multigrain to expand its operations, which include grain origination and export facilities; integrated production of soybeans, corn, sugar cane, and cotton; and agricultural processing.
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