ST. PAUL, Minn., Jan. 12, 2011 /PRNewswire/ -- CHS Inc., , a leading energy, grains and foods company, announced today it is exploring a possible change in its ownership of Multigrain S.A., a joint venture with PMG Trading and Mitsui and Co., Ltd., but it has not finalized any agreements.
"In keeping with our commitment to providing our member owners and customers with year-round access in a complex global grain market, CHS is continually examining its business arrangements, assets and opportunities," said Mark Palmquist, executive vice president and chief operating officer, Ag Business. "Specifically, we are exploring options in Brazil to further expand our grain origination, logistics and transportation and export capabilities to support our long-term global growth strategy in agriculture and energy commodities."
CHS is committed to an ongoing grain origination presence in Brazil along with other global grain origination and marketing points as an important means of complementing the company's core U.S. producer origination and adding value for its customers and owners year-around.
"While the Multigrain partnership has benefitted CHS and its shareholders, we recognize CHS needs a larger South American presence to achieve its long-term strategy of global growth," said Palmquist.
The company's South American businesses include CHS do Brasil Ltda., with headquarters in Sao Paulo, and CHS de Argentina with headquarters in Buenos Aires, which procure grains and oilseeds for global customers and export from multiple southern Brazil ports.
CHS Inc. (http://www.chsinc.com/) is a diversified energy, grains and foods company committed to providing the essential resources that enrich lives around the world. A Fortune 100 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® 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, 2010, which can be found on the Securities and Exchange Commission web site (http://www.sec.gov/) or on the CHS web site http://www.chsinc.com/.
CHS Inc.
CONTACT: Lani Jordan of CHS Inc., +1-651-355-4946,
Lani.jordan@chsinc.com
Web Site: http://www.chsinc.com/
