Archer Daniels Midland Company (ADM) has agreed to acquire a 50% stake in Cairo-based company Medsofts Group. The move gives it access to an Egyptian company with regional stevedoring and storage operations and inland logistics capabilities. The new 50-50 joint venture will own and manage an operation that handles more than 1.5mt of grains, oilseeds and soft commodities annually destined for the Middle East and North Africa. It also offers a local grain distribution operation, serving customers in Egypt; and an inland logistics network that links port operations to customers throughout the country.
