ST. PAUL, Minn., July 28, 2013 /PRNewswire/ -- CHS Inc. (NASDAQ:
CHSCP), the nation's leading farmer-owned business and a global
energy, grains and foods company, today announced it has invested
in Agfarm, an Australia-based
grain origination and marketing company. CHS and Ruralco Holdings
Limited (Ruralco), Sydney,
Australia, will each own 50 percent of Agfarm. The Agfarm
name and management structure will not change.
"CHS is committed to investing for the long term in the
Australian market, so that Agfarm growers benefit from even
stronger connections to the growing, global demand for high quality
grains and oilseeds," said Rick
Browne, CHS Ag Business, senior vice president, Asia-Pacific. "This partnership aligns with
CHS strategic growth initiatives that add value to member-owners by
competitively linking global producers with buyers and
consumers."
Agfarm has 38 employees in eight offices in Australia. Agfarm founder Bob McKay will continue to serve the
organization as chief executive officer.
About CHS
CHS Inc. (www.chsinc.com) is a leading
global agribusiness owned by farmers, ranchers and cooperatives
across the United States.
Diversified in energy, grains and foods, CHS is committed to
helping its customers, farmer-owners and other stakeholders grow
their businesses through its domestic and global operations. CHS, a
Fortune 100 company, supplies energy, crop nutrients, grain
marketing services, 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.
About Ruralco
Ruralco Holdings Limited (ASX: RHL), is
a leading Australian agribusiness. Ruralco operates through a
national footprint of businesses that specialize in providing rural
customers with products and services in merchandise, fertilizer,
seed, wool, livestock, real estate, risk management, water, grain,
finance and insurance. Ruralco's businesses around the country
operate under their own brands. They have their own cultures, their
own service models and their own unique value propositions — all
designed to meet the demands of local or regional markets. The
Group's businesses are committed to supporting the communities
within which they operate.
About Agfarm
Established in 1992, Agfarm is an
Australian owned agribusiness that works with growers to manage the
marketing and sale of their grain. Agfarm provides a range of
services to make farming easier and ensure the long term viability
of its clients operations. Agfarm works with growers to develop a
comprehensive strategy that meets their individual requirements,
allowing them to put their focus back on farming and keep them on
the land for generations to come.
Since becoming part of the Ruralco Group in 2009, Agfarm has
been able to develop relationships with a broader network and has
secured profitable, long term growth for the business. Agfarm
continues to pursue strategic growth through geographic expansion,
diversification across the supply chain and the development and
commercialization of complimentary business units.
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, 2012, 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.