Wilmar Gavilon Pty Ltd. Acquires Port Facility in Brisbane
* Reuters is not responsible for the content in this press release.
Joint Venture Facility Expected to Begin Exporting Grain Early 2010 RICHLANDS, QUEENSLAND, Australia--(Business Wire)-- Wilmar Gavilon Pty Ltd. today announced the acquisition of the Brisbane sugar terminal, which is due to settle on September 21, 2009. Constructed in 1985 to store and handle bulk sugar, the port facility features a private berth, 100,000-metric-ton dry storage shed, covered truck receiving station and ship loader. Following investments related to site improvements and expansion, the facility will handle grain and other bulk and liquid commodities. "The expansion of our operations into Australia`s port system represents an important investment in our long-term growth strategy," said Scott Weitemeyer, managing director of Wilmar Gavilon. "The Brisbane location provides an excellent opportunity for us to support the growing Queensland grain market and further expand our existing businesses." Construction and facility upgrades will begin in October 2009. The site is expected to begin handling grain exports early 2010. About Wilmar Gavilon Pty Ltd. Wilmar Gavilon Pty Ltd., formerly known as CTG Wilmar Pty Ltd., was formed in 2007 by Wilmar International Limited and The Gavilon Group, LLC as a 50:50 joint venture to invest in the sourcing and distribution of a variety of feed ingredients, and oils and fats. About Wilmar International Limited Wilmar International Limited, founded in 1991 as a palm oil trading company, is today Asia`s leading agribusiness group. It ranks amongst the largest listed companies by market capitalization on the Singapore Exchange. Its business activities include oil palm cultivation, edible oils refining, oilseeds crushing, consumer pack edible oils processing and merchandising, specialty fats, oleochemicals and biodiesel manufacturing, and grains processing and merchandising. Headquartered in Singapore, its operations are located in more than 20 countries across four continents, with a primary focus on Indonesia, Malaysia, China, India and Europe. Backed by a staff force of more than 70,000 people, over 250 processing plants and an extensive distribution network, its products are sold to more than 50 countries globally. Over the years, it has established a resilient integrated agribusiness model that captures the entire value chain of the agricultural commodity processing business, from origination and processing to the branding, merchandising and distribution of a wide range of agricultural products. Through scale, integration and the logistical advantages of its business model, it is able to extract margins at every step of the value chain, resulting in significant operational synergies and cost efficiencies. About The Gavilon Group, LLC The Gavilon Group, LLC provides essential services in the physical distribution, trading, merchandising and risk management of raw materials and value-added products moving through the global supply chain of grain, feed ingredients, fertilizers and energy products. For more information, please visit www.gavilon.com. Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6035614&lang=en Anderson Partners Deb Ahl, 800-551-9737 dahl@andersonpartners.com Copyright Business Wire 2009
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.
Follow Reuters