Marubeni Corp expects 10 billion yen ($91.96 million) profit from U.S. grain merchant unit Gavilon in the year to March 2017, up from 5.4 billion yen a year earlier, helped by restructuring, its president Fumiya Kokubu said on Tuesday.
“Our assumption prices are lower than the current prices,” he told an earnings news conference, without […]
From an article titled ”3 Gavilon executives are out; parent company’s disappointed CEO had promised ‘dramatic measures”’ in the Omaha World-Herald:
The Omaha-based commodities company Gavilon said Friday that its chief executive, chief operating officer and head of its North American grain division are gone and the new CEO will start working for the […]
Gavilon news release:
Gavilon Grain, LLC has announced that it has launched a new web service, myGavilon, that allows customers to personalize their grain experience. Producers are able to access all of their transactions (i.e., balances, contracts and tickets) as well as weather, cash bid and futures market information all in one place.
From The Wall Street Journal:
Japanese trading house Marubeni Corp. MARUY 0.91 % is set to increase its investment in Gavilon, the U.S.-based grain trader it bought two years ago, in an attempt to turn around the division’s disappointing performance, a senior company executive said.
Poor harvests in the past couple of years in the […]
Executives at a large Japanese trading company plan to take major pay cuts this year that are attributable in part to what has happened 6,000 miles away in Omaha.
Marubeni Corp., based in Tokyo, last week reported 2014 annual profit that fell by 50 percent, on worse results from oil and grain trading. Part of […]
The U.S. Commodity Futures Trading Commission issued an order filing and simultaneously settling charges against Marubeni America Corp., a dealer and merchant of agricultural commodities and the largest overseas subsidiary of the Japanese company Marubeni Corporation, for failing to comply with its obligation to submit accurate monthly reports regarding the composition of Marubeni’s fixed-price cash […]
The number of U.S. grain elevators, mills and feedlots that will buy a type of biotech corn banned by China has more than doubled since July, indicating growing domestic acceptance for a product seen as a potential risk to international trade.
The announcement, coming just before the start of the planting season, is aimed at […]
Japanese trading house Marubeni Corp halved its annual profit forecast on Monday after plunging oil, copper and coal prices weighed on its resource assets and it booked an impairment charge for its grains unit Gavilon.
Like international oil majors and mining companies, Japan’s trading companies have been caught flat-footed by the rout in commodities, with […]
Greg Heckman, president and CEO of Gavilon Group, LLC, announced Friday his decision to leave Gavilon after a 30-year career with the company. Chief Operating Officer Jim Anderson has been named president and chief executive officer, effective immediately.
After the company was formed in 2008 from the sale of ConAgra Trade Group, Heckman devoted the […]
From an Archer Daniels Midland – Marubeni news release:
Archer Daniels Midland Company and Marubeni Corporation announced today that they have expanded Kalama Export Company LLC, their joint venture in the U.S. Pacific Northwest, as a result of Marubeni’s contribution of its grain export elevator operations at Terminal 5 in The Port of Portland, Oregon, […]
Gavilon Grain announced it has acquired a 981,000-bushel grain facility in Silica, Kansas. The Silica facility primarily handles wheat, corn, milo and soybeans, with 60-car shipping capabilities on the Kansas-Oklahoma railroad.
The Silica facility is Gavilon’s third grain elevator in Kansas, located 100 miles southwest of its shuttle facility in Abilene and 100 miles northwest […]
Two workers were reportedly injured in an explosion at a grain facility just south of Warren, Illinois.
Jo Daviess County Sheriff Kevin Turner said the blast was reported just before 11 a.m. Tuesday. Two Gavilon employees were reportedly treated at the scene by Warren County EMS. The injured workers were a 33-year-old man from Nora, […]
Gavilon, owner of this elevator in Clovis, NM, operates on six continents.
New Mexico: The Clovis City Commission, after discussing concerns it was too quick to offer economic development dollars, introduced an ordinance that could mean up to $100,000 for an area grain company.
The ordinance, introduced on a 6-2 vote, would allow the city […]
From a Bunge news release:
Bunge North America, the North American operating arm of Bunge Limited, announced that it has promoted George Allard to vice president and chief financial officer. Allard replaces Todd Bastean who was promoted to chief executive officer for Bunge North America effective June 1, 2013. In addition, Matt Gibson joined Bunge […]
[Note: Marubeni, owner of Columbia Grain in Portland, purchased Gavilon, part owner of Kalama Export, in July.]
Marubeni Corp. (8002), a Japanese trading company that closed its biggest takeover of Gavilon Group LLC in July, cut its profit estimate for the U.S. grain collector by almost two-thirds this year.
Due to the continuing impact of […]