From a Marubeni-Columbia Grain news release:
Columbia Grain Inc. (“CGI”), a 100% owned subsidiary of Marubeni Corporation (“Marubeni”), is pleased to announce that it has entered into a LLC membership purchase and sale agreement for purchasing a portion of ownership interest of Montana Specialty Mills, LLC (“MSM”), headquartered in Great Falls, Montana. With this investment, […]
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 […]
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 […]
Japanese trading house Marubeni has decided to close its Australian grain business.
In a letter obtained by Fairfax Media, Marubeni Australia managing director Makoto Kajitani confirmed the company was closing its grain business in Australia. He said this was due to the company’s global grain strategy and not a result of any performance issues.
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, […]
Excerpts from the Columbian:
Union workers who handle cargo at grain export terminals in Vancouver and other Northwest ports have voted overwhelmingly to ratify a new collective bargaining agreement with several multinational grain companies, the International Longshore and Warehouse Union said Tuesday. The tally was 88.4 percent in favor, with 1,475 in favor and 193 […]
SAN FRANCISCO, CA (August 26, 2014) – Longshore workers who load grain in Pacific Northwest export terminals have voted to ratify a new collective bargaining agreement with several multinational grain companies. The vote included members of ILWU Local 8 in Portland, Ore., and Local 4 in Vancouver, Local 21 in Longview, Local 19 in Seattle, […]
From The Columbian:
A bitter two-year labor dispute that engulfed everyone from Vancouver police and Washington’s governor to state and federal agriculture officials may have ended, as the International Longshore and Warehouse Union and Northwest grain terminal operators have reached a tentative contract agreement.
In an email to The Columbian Tuesday, Jennifer Sargent, spokeswoman for […]
From the Federal Mediation and Conciliation Service:
WASHINGTON, D.C. — Scot L. Beckenbaugh, Acting Director of the Federal Mediation and Conciliation Service (FMCS), issued the following statement today on a tentative agreement reached just prior to midnight (PST) last evening between the International Longshore and Warehouse Union (ILWU) and Pacific Northwest Grain Companies.
“After engaging […]