Illinois-based Archer Daniels Midland Co. (ADM) has acquired a stake in the Columbia Grain export terminal in Portland, Oregon by expanding its Kalama Export Co. joint venture with Japanese grain trader Marubeni Corp which had been the ports sole owner. This is the second export terminal in the U.S. Pacific Northwest in which ADM has acquired a stake, giving the company a foothold in the U.S. region considered to be a gateway for shipping to Asia. Thirty percent of U.S. grain and oilseed exports and 50% of all U.S. wheat exports are handled and shipped through facilities in the Pacific Northwest. Under the new ownership agreement ADM will own 32.2% of Kalama Export Company’s two terminals, Marubeni will own 60.6%, and Mitsubishi will own 7.2% while the 50/50 ADM-Marubeni governance structure will remain the same. ADM and Marubeni will also be renaming the joint venture Pacificor LLC.
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