Published On: Wed, Aug 12th, 2015

Cargill to unveil $7.25 billion business plan for Mexico

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Agribusiness company Cargill Inc. plans to expand its business in Mexico in coming years, including $170 million in direct investment, supplying credit for local farmers and increasing its purchases of Mexican crops, a company official announced on Tuesday August 11.

We believe Mexico can play a bigger role in feeding the world,” Cargill Chief Executive David MacLennan said at an event in the western state of Jalisco, where Cargill reinaugurated an animal feed plant.

MacLennan said Cargill, which this year marks its 50th anniversary of operations in Mexico, wants to increase its presence in agriculture and supply chains in the country.

Global commodities trader Cargill will unveil a $7.25 billion business plan for Mexico for 2015-2018, which includes financing for agriculture, crop purchases and $167 million in direct foreign investment, local paper El Financiero said on Tuesday August 11 (Photo: Reuters)

Global commodities trader Cargill will unveil a $7.25 billion business plan for Mexico for 2015-2018, which includes financing for agriculture, crop purchases and $167 million in direct foreign investment, local paper El Financiero said on Tuesday August 11 (Photo: Reuters)

In addition to the $170 million in direct investment, the company’s 2015-2018 business plan includes providing $1.1 billion in financing to support local producers and the purchase of about $4.5 billion of Mexican crops, he said.

Wayzata-based Cargill has nine business units in Mexico, employing 1,750 people at 30 facilities in 13 states. Its operations include marketing and trading, importing and exporting products such as edible oils, grains and sugar, and financing.

 

Source: http://www.twincities.com/

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