Publish Date : 29-Mar-2014
Copersucar and Cargill announced today an agreement to combine their global sugar trading activities into a new joint venture that will originate, commercialize and trade raw and white sugar. The joint venture, in which both Copersucar and Cargill will own a 50-percent stake, will have a global footprint.
The joint venture will build on the capabilities of both companies with the intent of increasing the efficiency, quality and services in the sugar supply chain as well as leveraging an in-depth understanding of the worldwide market to the benefit of our customers.
Its customers will benefit from the complementary strengths of Copersucar and Cargill. Both companies' combined global supply chain will allow the new joint venture to seamlessly move a wide range of sugar qualities and different origins from port to destination in a timely and efficient manner, meeting the specific requirements of customers worldwide. The new joint venture will benefit from a global footprint as well as large-scale supply of Copersucar's partner mills in Brazil, complemented by Thai, Indian, Central American and Australian origins. Additionally, it will benefit from the companies' proven track-record in logistics management and access to the elevation terminals in Brazil.
Luis Roberto Pogetti, Chairman of Copersucar commented: "Through the new company, Copersucar reinforces its strategy of achieving a global footprint in the sugar market. Copersucar also enhances its unique business model, based on large-scale supply, logistic capacity and the integration of all links of the chain, from the producers to the customers."
Olivier Kerr, Cargill Corporate Vice President, added: "We believe that the strong analytical capabilities of our trading teams combined with the global footprint of this new joint venture, will offer our customers a distinct understanding of the global market."
Cargill and Copersucar have shared business values. They are committed to high ethical business standards and to being a responsible partner in the communities in which they operate.
The new company will be an independent joint venture of its two parent companies, Copersucar and Cargill, with a new name to be announced at closing. The trading activities will be based out of Geneva, Switzerland, and the joint venture will have offices in Hong Kong, Sao Paulo, Miami, Delhi, Moscow, Jakarta, Shanghai, Bangkok and Dubai. Furthermore, the joint venture will have a true global presence with additional representation offices around the world.
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