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.
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| Rice up close (Photo credit: Rowan Peter) |
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