ADM, Marubeni expand joint venture

Archer Daniels Midland Co. and Marubeni Corp. announced an expansion of Kalama Export Co. LLC, their joint venture in the Pacific Northwest.

Marubeni is adding grain export elevator operations at The Port of Portland, Oregon, to a subsidiary of Kalama. The companies also will rename Kalama as Pacificor LLC.

“This action represents another important step in our ongoing efforts to build ADM’s Agricultural Services value chain from origination to destination,” said Joe Taets, ADM senior vice president and Agricultural Services president, said in a news release. “With the addition of these export operations to Kalama Export Co., we are further expanding our network in a capital-effective way.”

Kalama, set up in 1998, exports grains and oilseeds through its grain elevator operations in The Port of Kalama, Washington. The Kalama and Portland elevators will operate independently under common ownership, the companies said.