CHS and Zen-Noh form grain marketing joint venture
May 7, 2012
ST. PAUL, Minn., May 7, 2012 /PRNewswire/ -- CHS Inc., St. Paul, Minn.; and Zen-Noh, Tokyo, Japan, two of the world's leading farmer-owned cooperatives, today announced CHS has acquired 51 percent of CZL Ltd., a joint venture company that will supply commodities, primarily wheat and barley, to Japan. The joint venture will be managed from the CZL office in Tokyo.
"CHS and Zen-Noh have been strong trading partners for more than 30 years," said Rick Browne, senior vice president, CHS Asia-Pacific. "This formal agreement strengthens CHS role in adding value to member-owners grain by aligning with these trusted partners in an important Asia-Pacific market."
CZL will market commodities that are primarily sourced in the United States, Canada and Australia, to Japan. Japan is the top global destination for wheat and barley imports. Browne says this partnership is particularly significant for CHS shippers and growers sending grain from the Midwest and Pacific Northwest to export terminals in Kalama and Tacoma, Wash., and Portland, Ore.
"Strategically aligning grain origination with growing consumer demand is core to our continued global commodities expansion on behalf of our cooperative owners," Browne said.
CHS Inc. is the nation's leading cooperative, owned by farmers, ranchers and co-ops across the United States. A diversified global energy, grains and foods business and a Fortune 100 company, CHS is committed to helping producers and member cooperatives grow their businesses through its domestic and global operations. CHS 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