Marubeni and ADM Bolster Export Joint Venture in U.S. Pacific Northwest

CHICAGO, Sep 30, 2014 (BUSINESS WIRE) Archer Daniels Midland Company (NYSE: ADM) and Marubeni Corporation (TSE: 8002) announced today that they have expanded Kalama Export Company LLC (KEC), 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, to Columbia Export Terminal, a subsidiary of KEC. In connection with the transaction, the parties also intend to rename KEC as Pacificor, LLC. KEC, which was formed in 1998 by Marubeni s subsidiary, Gavilon Holdings, LLC; ADM; and Agrex, Inc., is engaged in the business of exporting grains and oilseeds via its grain elevator operation located in The Port of Kalama, Washington. The Kalama and Portland grain elevator facilities will continue to operate separately and maintain separate control of labor relations, but their common ownership is expected to improve efficiency and achieve more effective operation of the businesse
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