Cargill, Louis Dreyfus Commodities End CLD Joint Venture
PORTLAND, Ore., July 5, 2011 /PRNewswire/ — Cargill and Louis Dreyfus Commodities said that they will end a joint venture that operates grain facilities in the Pacific Northwest within the next year.
CLD Pacific Grain, LLC was formed in 2001. The Cargill facilities in the joint venture include an export facility in Portland, Ore., and river facilities in Boardman and Arlington, Ore.; Burbank, Wash.; and Lewiston, Ida. The Louis Dreyfus Commodities facilities are an export facility in Portland, Ore., and a river facility in Windust, Wash. Both companies plan to maintain a presence in the Pacific Northwest grain export business.
“CLD has been a successful business, and we appreciate the work of the CLD team,” said Michael Ricks, food grain product line manager for Cargill and a CLD board member. “With the current market dynamics, we wanted to take a new approach to serving the export markets from the Pacific Northwest.”
“CLD prospered because of the hard work of CLD personnel,” said Erik Anderson, CEO of Louis Dreyfus Commodities North America and a CLD board member. “Louis Dreyfus Commodities has decided to pursue new ways to work with growers and customers in the Pacific Northwest export markets in a continuation of our long and successful relationships.”
CLD handles a variety of grains, including soft white wheat, dark north spring wheat, hard red winter wheat, club wheat, hard white wheat and barley. The grains are exported primarily to Asia.
Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services. Founded in 1865, the privately held company employs 131,000 people in 66 countries. Cargill helps customers succeed through collaboration and innovation, and is committed to applying its global knowledge and experience to help meet economic, environmental and social challenges wherever it does business. For more information, visit www.cargill.com.
About Louis Dreyfus Commodities
Louis Dreyfus Commodities is a global agri-commodities leader. The Group’s portfolio includes Oilseeds, Grains, Rice, Freight, Finance, Juice, Cotton, Coffee, Sugar, Metals, Milk, Fertilizers and Sugar and Ethanol mills businesses. With 160 years in the commodities business, Louis Dreyfus Commodities maintains a dynamic culture with 34,000 employees at peak season, and offices in more than 55 countries. For more information, visit www.ldcommodities.com.