This is as a result of Marubeni’s contribution of its grain export elevator operations at Terminal 5 in The Port of Portland, Oregon, to Columbia Export Terminal, a subsidiary of KEC.
In connection with the transaction, the parties also intend to rename KEC as Pacificor LLC.
KEC, which was formed in 1998 by Marubeni’s subsidiary, Gavilon Holdings, ADM and Agrex, is engaged in the business of exporting grains and oilseeds via its grain elevator operation located in The Port of Kalama, Washington.
The Kalama and Portland grain elevator facilities will continue to operate separately and maintain separate control of labour relations, but their common ownership is expected to improve efficiency and achieve more effective operation of the businesses.
“This action represents another important step in our ongoing efforts to build ADM’s Agricultural Services value chain from origination to destination,” said Joe Taets, ADM senior vice president and president, agricultural services. “With the addition of these export operations to Kalama Export Company, we are further expanding our network in a capital-effective way.”
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