World Grain - February 2022 - 81

WORLD GRAIN ARCHIVE
1992
Thomas Robinson, the UK engineering
company that had its origins
many years ago in flour milling
equipment and which sold the
milling machinery business late last
year to Satake Corp. of Japan, will
itself be taken over by GM Group,
a construction equipment distributor
and manufacturer. BM Group
has offered £41 million ($73.8 million)
in new shares based on 10 new
BM shares for every 148 Robinson
shares, in making the acquisition.
The offer valued Robinson at 25.8
pence per share, more than double
the last traded price. BM said it
would raise £60 million in cash
through a 4-for-1 rights issue to
present holders. These funds will
be used to reduce Robinson's debt,
which reached a peak of £64 million
last spring.
Guy Valentine,
managing
director
of Mardorf Peach & Co., the
wholly owned grain subsidiary of
Associated British Foods PLC, was
selected president of the Grain and
Feed Trade Association. He succeeds
Tony Scott, a director of European
Grain and Shipping. Valentine
joined Mardorf Peach in 1978
as overall controller of wheat.
Edgardo J. Goldaracena is the new
president and chief executive officer
of Garnac Grain Co., Inc. Goldaracena
is an international commodities
trading executive who was affiliated
with Cargill for 22 years. Garnac
Grain recently signed a letter of
intent with Archer Daniels Midland
Co. (ADM), Decatur, Illinois, US,
under which ADM would acquire
all of Garnac Grain's fixed assets in
the United States.
2002
In clearing the acquisition by Cargill,
Inc. of Montedison's 56%
shareholding in Cerestar, the European
Commission said effective
competition would continue in the
EU starch and vital wheat gluten
markets. It referred the issue of glucose
syrups and blends markets in
the UK to competition authorities
there. Cargill now awaits a ruling
by the US Department of Justice.
If favorable, Cargill will purchase
Montedison's shares and file a public
tender offer for the remaining
44% interest in Cerestar at 33 euros
($29.82) per share.
Greg Arason, president and chief
executive officer of the Canadian
Wheat Board (CWB), announced
he would not extend his current
two-year term, set to expire at the
end of the year. The organization's
board of directors in December had
proposed a one-year extension of
Arason's term. Ken Rittter, CWB
chairman, said they would work toward
an orderly transition of executive
responsibility, and added " we
are pleased that CWB management,
staff and customers will have the
benefit of Greg's leadership until
the end of the current term. " Arason
has served as president and CEO of
CWB since 1988.
2012
Olam International Ltd. recently announced
a proposed $50 million expansion
of its wheat milling capacity
at Crown Flour Mills (CFM) in
Nigeria. Nigeria currently imports
approximately 4 million tonnes of
wheat per year, which finds application
in bread, noodles, biscuits and
pasta. CFM, which ranks among the
three largest wheat millers in Nigeria,
was acquired by Olam in January
2010. The acquired operation
included
two port-based
installed
milling
facilities in Lagos and Warri with
total
capacity of 1,630
tonnes per day. The current investment
will lead to the addition of a
semolina mill and a flour mill in
Lagos, each of 250 tonnes per day,
and a 250-tonne-per-day flour mill
in Warri, taking the total capacity
from 1,630 tonnes per day to 2,380
World-Grain.com / World Grain / February 2022
tonnes per day and increased silo
storage space to accommodate an
additional 18,000 tonnes of wheat
storage in Lagos and Warri.
North American Millers' Association
(NAMA) board member Breck
Barton,
Cereal Food Processors,
Inc., announced on Jan. 11 that Fran
Churchill, a Kansas State University
(KSU) alumna and an experienced
miller, will join the Grain
Science and Industry Department
at KSU as the new NAMA-funded
instructor of milling in the Milling
Science and Management program.
Churchill has more than 20 years of
milling industry experience.
Gavilon, LLC announced on Jan. 20
that it has completed, through subsidiaries,
the acquisition of AgriService,
a Sao Paulo, Brazil-based integrated
service provider to the grain
sector.
AgriService
1986
1987
1988
1991
1989
1990
will operate
independently as a wholly owned
subsidiary of Gavilon and continue
focusing on its core business, acting
as broker and consultant to its clients;
marketing corn and soy products
from Brazil to final consumers
globally; and providing internal logistics,
commodity brokerage and
vessel chartering services.
Global food prices, which were
about 24% higher on average in
2011 than they were in 2010, are
expected to decline in 2012 on increasing
supplies,
still
remain
although
volatile,
they
according
to
the World Bank. For 2011, the
price of wheat and soybean oil was
down 12% and 9%, respectively,
from 2010, while the price of rice
and maize increased 10% and 3%,
respectively. Specifically, wheat
prices were up 88% in Belarus between
2009 and 2010, up 23% in
Ethiopia, up 13% in Bolivia, and up
10% in China. The price of maize,
meanwhile, was up 117% in Kenya,
106% in Mexico, up 84% in South
Africa and up 76% in Ethiopia.
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World Grain - February 2022

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