Prne
September 1st, 2009
ST. PAUL, Minnesota -
CHS Inc., (Nasdaq: CHSCP) a leading energy, grains and foods company today announced it has invested in a project that will result in partial ownership of a grain export terminal with GN Terminals, Odessa. The two companies will operate an export terminal there with expected annual grains shipping capacity of two million tons.
Under the agreement and upon closing, CHS (www.chsinc.com) will manage part of the terminal’s capacity, allowing it to manage its own rail cars, trucks and ships through the Odessa terminal. CHS operations in Odessa will be managed from the CHS Europe office in Geneva, Switzerland, and all grain will be marketed as CHS.
“Our Black Sea investments support the company’s strategy of being a major supplier of grain to the global marketplace from both domestic and key international sources,” says Claudio Scarrozza, general manager, CHS Europe.
CHS Inc. is a diversified energy, grains and foods company committed to providing the essential resources that enrich lives around the world. A Fortune 200 company, CHS is owned by farmers, ranchers and cooperatives, along with thousands of preferred stockholders across the United States. CHS supplies energy, crop nutrients, grain, livestock feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex(R) brand refined fuels, lubricants, propane and renewable energy products. CHS is listed on the NASDAQ at CHSCP.
This document contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 that are based on management’s current expectations and assumptions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. The company undertakes no obligations to publicly revise any forward-looking statements to reflect future events or circumstances. For a discussion of additional factors that may materially affect management’s estimates and predictions, please view the CHS Inc. annual report filed on Form 10-K for the year ended Aug. 31, 2008, which can be found on the Securities and Exchange Commission web site (www.sec.gov) or on the CHS web site www.chsinc.com.
Source: CHS Inc.
Lani Jordan, +1-651-355-4946, lani.jordan at chsinc.com, or Annette Degnan, +1-651-355-5126, Annette.degnan at chsinc.com, both of CHS Inc.
Filed under Acquisitions / Mergers / Takeovers, Agriculture, Consumer Products, Energy, Food / Beverages, Investors, Oil | Tags: CHS Inc., Eastern Europe, Minnesota, St. paul, Switzerland | Comment Below
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