Cargill acquires grain elevators and a grain terminal in southern Russia
This acquisition further strengthens Cargill’s commitment to the Krasnodar region and marks our entry into the dynamic Rostov region.
“This acquisition further strengthens Cargill’s commitment to the Krasnodar region and marks our entry into the dynamic Rostov region. It will allow us to better serve our customers in Russia”, comments Alexander Keane, head of Cargill’s grain and oilseeds trading business in Russia. “A key reason for the success of the Rusagro elevators has been the well-established and experienced management team, along with the very skilled and motivated employees. These employees will be essential to the continued success of the businesses and will now have the opportunity to work closely with Cargill colleagues, giving them access to our global supply chain knowledge and expertise.”
The deal involves the transfer to Cargill of approximately 340 workers in the elevators and 70 employees at the Rostov terminal. “We have decided to concentrate on our food processing activities”, says Vadim Moshkovich, General Director of Rusagro.
With over US$300 million invested in the Russian agricultural and food processing sectors, Cargill is one of the leading foreign investors in Russia. In total Cargill Russia employs 954 people, over 99% of whom are Russian nationals. On a regional level, Cargill and its joint venture partners now own and operate 75 grain elevators in Romania, Ukraine, Kazakhstan, Hungary and Russia, representing some two million tonnes of storage capacity.
As a respected company with global expertise in supply chain and risk management, Cargill will help open new markets for local and regional businesses and the local farming community with this acquisition.
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