ST. PAUL, Minn., March 4, 2011 /PRNewswire/ -- CHS Inc., (Nasdaq :CHSCP ) a leading energy, grains, foods company has begun trading fertilizer at its European operations office in Geneva, Switzerland. CHS currently sources crop nutrients from 19 countries, but until now has only marketed fertilizer products domestically.
"In many geographies, we're already shipping grain to the same regions where we buy fertilizer. Fully integrating these businesses will help us maximize our sourcing and logistical strengths and better serve customers," says Mark Palmquist, CHS executive vice president and chief operating officer, Ag Business. "We'll be in a stronger position to add shareholder value by creating unique offers and distribution efficiencies."
Joining CHS in Geneva are Walter Singer, manager of CHS Europe fertilizer department, and Hans von der Brelie, effective April 1, manager of CHS Europe fertilizer marketing. Singer and von der Brelie will be responsible for sourcing and marketing fertilizer throughout the company's European operations, which includes the Black Sea region, former Soviet Union countries, the Middle East, Africa and for fertilizers, the Indian subcontinent. They will report to Claudio Scarrozza, senior vice president, CHS Europe. Prior to joining CHS, both Singer and von der Brelie had extensive experience in the sector with multinational companies. Earlier this year, CHS added Hussam Deranieh, area manager, Middle East, CHS Europe, to its Amman, Jordan, office, also reporting to Scarrozza.
North American fertilizer customers already doing business with CHS will gain better global connections and insight, says Palmquist. "Increasingly, world events trigger fertilizer market events, in terms of production outages and export disruption," he says. "Experienced international traders in Europe and the Middle East focusing solely on fertilizer markets will give our domestic supply and marketing team additional market intelligence to help customers better manage volatility and risk."
In January, CHS acquired AgriPoint Limited, adding 60-70 million bushels of grain volume and important infrastructure on the Black Sea to its global supply chain capabilities with a deep-water port in Constanta, Romania, a barge loading facility on the Danube River at Giurgiu, Romania, and an inland grain terminal at Oroshaza, Hungary.
CHS Inc. (www.chsinc.com) is a diversified energy, grains and foods company committed to providing the essential resources that enrich lives around the world. A Fortune 100 company, CHS is owned by farmers, ranchers and cooperatives, along with thousands of preferred stockholders across the United States. CHS supplies energy, crop nutrients, livestock feed, grain, food and food ingredients, along with business solutions, including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products. CHS is listed on the NASDAQ at CHSCP.
This document contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 that are based on management's current expectations and assumptions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. The company undertakes no obligations to publicly revise any forward-looking statements to reflect future events or circumstances. For a discussion of additional factors that may materially affect management's estimates and predictions, please view the CHS Inc. annual report filed on Form 10-K for the year ended Aug. 31, 2010, which can be found on the Securities and Exchange Commission web site (www.sec.gov) or on the CHS web site www.chsinc.com.
SOURCE CHS Inc.