CHS acquires Atman to support commodity business expansion
Aug 1, 2012
ST. PAUL, Minn., Aug. 1, 2012 /PRNewswire/ -- CHS Inc. (Nasdaq: CHSCP), a leading global energy, grains and foods company owned by U.S. farmers and ranchers, today announced it has acquired Atman, a company based in Goiania, Brazil. The acquisition was executed through the company's CHS do Brasil entity in that country.
Atman is an input distribution and grain origination company operating in Goias, the third largest producing state of Brazil.
"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 fulfill 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 percent 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 percent ownership of Andali, a provider of fertilizer 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.
CHS Inc. is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. Diversified in energy, grains and foods, CHS is committed to helping its customers, farmer-owners and other stakeholders grow their businesses through its domestic and global operations. CHS, a Fortune 100 company, supplies energy, crop nutrients, grain marketing services, livestock feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products.
SOURCE CHS Inc.
For further information: Annette Degnan, +1-651-355-5126, email@example.com