ADM, Cargill Launch Soybean JV in Egypt
As demand in the region grows, Cargill and ADM have announced a joint venture to supply soybean meal and soybean oil to customers in Egypt. Both companies see the deal as a way to expand into the targeted growth market of Egypt and North Africa.
Under the terms of the partnership, both companies will own and operate the National Vegetable Oil Company soy crush facility in Borg Al-Arab and a separate merchandising operation in Switzerland that will supply soybeans to the facility, where Cargill is currently expanding capacity from 3,000 tons per day to 6,000 tons per day.
The 50:50 joint venture will be managed as a standalone entity with a management team reporting to a Board of Directors appointed by both companies. Both ADM and Cargill will continue to operate their other business activities in the country independently.