Cargill has secured the winning bid to complete the acquisition of two animal feed mills from the Pennfield Corporation based in Lancaster, Pennsylvania, USA, for $9.8 million in a bankruptcy proceeding.
The acquisition will be finalised January 21, 2013, and Cargill will assume ownership.
Under terms of the agreement, Cargill acquired Pennfield’s animal feed mills and associated assets located in Mount Joy and Martinsburg, Pennsylvania.
“We are thrilled to add Pennfield’s state-of-the-art facilities and knowledgeable employees to the Cargill family,” says Rob Sheffer, group director, for Cargill’s Northeast region. “The deal not only expands our footprint in the region but it also provides us with additional capabilities and opportunities to serve new customer segments and enhance our offerings for existing customers in the region.”
Jennifer Horn, former director of administration and family member of Pennfield will join Cargill as administration team lead, where she will be responsible for overseeing Pennfield customer and employee communications. “We believe the employees and customers of Pennfield could not have received a better outcome than being part of the Cargill family,” Horn says. “Cargill is not only a market leader but also a family-owned organisation that shares the same values and commitment to providing the best products for our customers.”
Rice prices soar in the Dinajpur, Joypurhat and Naogaon districts in Bangladesh. Wholesalers and rice millers have attributed the situation to drastic fall in husking of paddy at rice mills due to unavailability of sunlight during the severe cold wave coupled with dense fog.
Due to the adverse weather, it takes much longer period to prepare a chatal for processing paddy into rice.
The price of coarse rice increased by Tk 100 to 120 per 50 kg sack while that of fine rice including miniket and pyjam increased by Tk 250 to 300 per sack in the retail markets of the three districts, said market sources.
Melvin R. Mai, former International GEAPS president, passed away January 7, 2013 aged 78.
Mai, a Lifetime member of the Gulf South Chapter, served as GEAPS' 50th International president from 1980-1981. At the time of his presidential term, he had been a Regular member for 11 years, and had been named GEAPS' Member of Distinction in 1979. This prestigious award is bestowed by the GEAPS International Board of Directors to give special recognition to members who have made extraordinary contributions to the advancement and pursuit of GEAPS' vision and mission.
He is survived by his wife, Delores Mai, two daughters and two grandsons, Jeremy and Justin.
|Rice up close (Photo credit: Rowan Peter)|