Copersucar and Cargill announced last Thursday (27), an agreement to combine their global marketing activities sugar into a new joint venture that will originate, market and act in trading of raw and white sugar. The joint venture, in which Cargill and Copersucar will have an equal share of 50%, will have global presence.
The joint venture will strengthen the ability of both companies to increase efficiency, quality and service in the productive chain of sugar, and leverage a deep knowledge of the global market to benefit our customers.
Customers will benefit from the strong complementarity of Copersucar and Cargill. The combined global infrastructure to supply chains of both companies will enable the joint venture take a wide range of varieties of sugar, from different backgrounds, from the port directly to your destination in a quick and efficient manner, meeting the specific requirements of customers around the world.
The new joint venture will benefit from the global presence and offer a large range of partners Copersucar plants in Brazil and complemented by origination in countries and regions such as Thailand, India, Central America and Australia. Additionally, the joint venture will benefit from the recognized expertise of both companies in logistics management and increase access to port terminals in Brazil.
Luis Roberto Pogetti, president of the Board of Directors of Copersucar, commented: "With the new company, Copersucar reinforces its strategy to consolidate its presence in the global sugar market Copersucar also reinforces its differentiated business model, based on supply large. scale, integration and logistical capacity of all links in the chain, from producers to customers. "
Olivier Kerr, corporate vice president of Cargill, added: "We believe the strong analytical ability of our teams trading and marketing combined with the global presence of this new joint venture will offer our clients a unique understanding of the global market."
Copersucar and Cargill also share the same entrepreneurial values. Are committed to the highest ethical standards, in addition to its commitment to be a responsible partner in the communities where they operate.
The new company is a joint venture of its two independent controllers with a new name, to be announced when the transaction is completed. The trading activities will be based in Geneva, Switzerland. The joint venture will have offices in Hong Kong, Sao Paulo, Miami, Delhi, Moscow, Jakarta, Shanghai, Bangkok and Dubai. In addition, the joint venture will have an effective global presence, with more representative offices around the world.
Ivo Sarjanovic, who currently leads the global sugar business of Cargill, will be appointed as Chief Executive Officer (CEO), so that the new company is formed. Hoed Soren Jensen, executive director of current commercial Copersucar, will be the Chief Operating Officer (COO) of the new joint venture. Already Stefano Tonti, controller of the current global business and trading sugar from Cargill, will be the Chief Financial Officer (CFO) of the new joint venture. Luis Roberto Pogetti, Chairman of the Board of Directors of Copersucar, will be the first rotary Chairman of the Board of Directors of the new company.
Not part of this transaction the ethanol business and the fixed assets of the two companies, as terminals and plants. These activities will continue to be separate businesses, individually controlled by Cargill and Copersucar.
The formation of this new joint venture depends on regulatory approval, expected in the second half of 2014.