Mitsubishi Corporation to Raise Stake in American Grain Company.Tokyo, Japan, June 18, 2007 - (JCN JCN Japan Corporate News
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JCN joint communications network (US DoD) Newswire) - Mitsubishi Corporation Mitsubishi Corporation (三菱商事株式会社 ('MC'; TSE See Tokyo Stock Exchange.
1. See Tokyo Stock Exchange (TSE).
2. See Toronto Stock Exchange (TSE). : 8058) has decided to acquire an additional 45% stake in Ohio-based FGDI, LLC (Logical Link Control) See "LANs" under data link protocol.
LLC - Logical Link Control , through MC's wholly owned grain company, Kansas City-based Agrex Inc. Through this acquisition, Agrex will raise its stake in FGDI from 30% to 75%.
1. Summary of the Acquisition
FCStone Group, Inc., an Iowa-based commodity futures risk management company, currently owns a 70% stake in FGDI, while Agrex has a 30% stake. Both companies have agreed that Agrex will acquire an additional 45% stake in FGDI from the FCStone Group (which will retain a 25% stake in FGDI).
2. Reason for the Acquisition
FGDI is a grain company with a solid procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. network that reaches across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , which is the world's largest grain producing and exporting country. FGDI is also the exclusive operator of a grain export facility in Mobile, Alabama, in the heart of the U.S. Gulf Coast, which is the largest grain exporting area in country.
Through Agrex, MC jointly owns a modern grain export facility in Washington State in the Pacific Northwest together with major U.S. grain companies. With this acquisition, MC will be able to fully utilize these two grain export facilities located along two key U.S. coasts (the Pacific Northwest and the U.S. Gulf Coast). MC expects to further develop the grain procurement business in the U.S. as well as the grain export business through its sales network covering Japan and other countries in
3. Overview of FGDI
1) Company name: FGDI, LLC
2) Headquarters: Bowling Green, Ohio Bowling Green is the county seat of Wood CountyGR6 in the U.S. state of Ohio. At the time of the 2000 census, the population of Bowling Green was 29,636. It is part of the Toledo, Ohio Metropolitan Statistical Area. , U.S.A.
3) Established: 1991
4) Paid in capital: USD USD
In currencies, this is the abbreviation for the U.S. Dollar.
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $7 million
5) Current sales amount: USD$1.078 billion
6) Number of employees: 82
4. Overview of Agrex Inc.
1) Established: 1986
2) Shareholders: Mitsubishi Corporation 90%
Mitsubishi International Corporation 10%
3) Paid in capital: USD$8 million
4) Current sales amount: USD$1.63 billion
5) Number of employees: 85
About Mitsubishi Corporation
Mitsubishi Corporation is Japan's largest general trading company (sogo shosha Sogo shosha (総合商社 sōgō shōsha ) with over 200 bases of operations in approximately 80 countries worldwide. Together with its over 500 group companies, MC employs a multinational workforce of approximately 54,000 people. MC has long been engaged in business with customers around the world in virtually every industry, including metals & mining, energy, machinery, chemicals, food and general merchandise. For more information, please visit http://www.mitsubishicorp.com/en/index.html.
Source: Mitsubishi Corporation
Sadanobu Takemasu Mitsubishi Corporation Public Relations Office Tel.: +81-3-3210-2104 Fax.: +81-3-3210-2104
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