Cargill, Louis Dreyfus to end joint venture in PNW
July 6, 2011
by Eric Schroeder
PORTLAND, ORE. — Cargill and Louis Dreyfus Commodities said they will end a joint venture that operates grain facilities in the Pacific Northwest within the next year.
Formed in 2001, CLD Pacific Grain, L.L.C. includes a Cargill export facility in Portland and river facilities in Boardman and Arlington, Ore.; Burbank, Wash.; and Lewiston, Ida. The Louis Dreyfus Commodities facilities in the joint venture include an export facility in Portland and a river facility in Windust, Wash. Both companies plan to maintain a presence in the Pacific Northwest grain export business.
CLD handles a variety of grains, including soft white wheat, dark north spring wheat, hard red winter wheat, club wheat, hard white wheat and barley. The grains are exported primarily to Asia.
“CLD has been a successful business, and we appreciate the work of the CLD team,” said Michael Ricks, food grain product line manager for Cargill and a CLD board member. “With the current market dynamics, we wanted to take a new approach to serving the export markets from the Pacific Northwest.”
Erik Anderson, chief executive officer of Louis Dreyfus Commodities North America and a CLD board member, said Louis Dreyfus Commodities has decided “to pursue new ways to work with growers and customers in the Pacific Northwest export markets in a continuation of our long and successful relationships.”