COFCO president Yu Xubo visited the United States from March 9 to 15 to check potential projects of investment in logistic facilities along the Mississippi River and the U.S. Gulf Coast and discussed issues concerning the formation of a three-party joint venture by COFCO, Noble Group and Nidera in the United States.
Nidera U.S.’s subsidiary Chicago & Illinois River Marketing (CIRM), Noble Agri U.S. and COFCO New York respectively gave an overall briefing on their current operational status and business plans in the United States. The three parties exchanged views on the development trend of U.S. grain trade market and focused their discussion on the progress of existing investment projects. The three parties also identified CNN’s future business development strategy in the United States and reached consensus on enhancing communication and establishing a joint venture to drive the business expansion as well as investments in logistic port facilities in the United States.
Nidera CEO Ton van der Laan, executive vice president of Americas Brandon Scott Crozier, and head of business development of Noble Agri Konstantin Koudriaev joined the discussion. President of US operations for COFCO Liu Mengze and vice president of COFCO International Song Xuanyi were also on the visit.
Mr. Yu Xubo also planned to attend the U.S. National Grain and Feed Association’s Annual Convention held in San Antonio, where he would meet senior corporate executives of Gavilon, CGB and ZEN-NOH and explore possible cooperation in the United States.