PARIS, Dec 18 (Reuters) - French cooperative group InVivo and U.S.-based Archer Daniels Midland Co are considering developing operational ties in grain trading to build on their current relationship as fellow shareholders in Toepfer, InVivo’s CEO said on Wednesday.
InVivo and ADM executives recently met in Paris and agreed to study possible synergies to strengthen their trading activities, Thierry Blandinieres told Reuters.
“We asked the question - what can we do together at an operational level?,” he said. “I would like to develop much greater synergies between our groups, ADM and InVivo, through Toepfer or otherwise.”
U.S.-based ADM is a leading global grain trader and owns 80 percent of German-based Toepfer International. InVivo, a grouping of more than 200 farmer-owned cooperatives, holds the remaining 20 percent but does not have an operational role in Toepfer.