ST. PAUL, Minnesota,
April 30, 2015 /PRNewswire/ -- CHS
Inc. (NASDAQ: CHSCP, CHSCO, CHSCN, CHSCM, CHSCL), North America's leading farmer-owned
cooperative and a global energy, grains and foods company, and
InVivo Group, the leading agricultural cooperative group in
France, announced today formation
of ICGrain to originate grain from Hungarian producers for export
to global food and feed companies.
Assets included in the agreement are the CHS inland silo at
Oroshaza, Hungary, and the InVivo
river terminal at Baja on the
Danube River. ICGrain, which will be equally-owned by CHS and
InVivo Group, will manage its own hedging, logistics, quality
assurance, and barge loading. ICGrain headquarters will be at
Budapest, Hungary.
"Our new partnership with InVivo adds tremendous value to our
member-owners and customers because it extends CHS grain
origination, creates access to additional inland river ports and
improves barge delivery to the CHS Silotrans facility at Constanta,
Romania, and to other Northern
European markets," says Roger Baker,
CHS Europe, vice president and general manager, at Geneva, Switzerland.
"InVivo has done business with CHS for several years, and during
that time we learned that we share many of the same business
objectives, in addition to the fact that CHS and InVivo are both
leading cooperative groups within their respective countries," said
Jerome Duchalais, deputy managing director of InVivo Group,
responsible for grain activity. "The creation of ICGrain is in line
with the ambitious growth and international expansion strategy
adopted by InVivo Group."
About InVivo
InVivo (www.invivo-group.com) is a union of 223 farming
cooperatives, which have a combined membership of more than 300,000
farmers. The Group employs 8,000 workers in 28 countries and
reported revenue of €5.7 billion in its 2013-2014 financial year.
InVivo is a key economic player in three activities: agriculture
(seeds, agricultural supplies and international grain trading),
animal nutrition and health, general public (garden centers) and
agri-food distribution.
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, animal
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.
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, 2014, which can
be found on the Securities and Exchange Commission web site
(www.sec.gov) or on the CHS web site www.chsinc.com.