Mitsui Forms Joint Venture with a Brazil-based Major Agricultural Producer for Large Scale Farm Operation
October 2, 2014     Japanese 
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Mitsui Forms Joint Venture with a Brazil-based Major Agricultural Producer for Large Scale Farm Operation - JCN Newswire
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Mitsui Forms Joint Venture with a Brazil-based Major Agricultural Producer for Large Scale Farm Operation

Tokyo, Sept 4, 2013 - (JCN Newswire) - Mitsui and Co., Ltd. has established a joint venture company of large scale agricultural production named SLC-MIT Empreendimentos Agricolas LtdaS.A. with SLC AGRICOLA S.A., a Brazil-based Major Agricultural Producer. Mitsui will strive to strengthen its agricultural production and increase its production scale by collaborating with a local partner in Brazil.

SLC operates 14 farms located in 6 Brazilian states, and has the largest scale of owned farms in Brazil, currently totaling 320 thousand hectares. SLC started its agricultural operation in 1977, focusing on soybean, cotton and corn production, thus having a wide experience in large scale agricultural production.

Mitsui has been developing its agricultural production in Brazil since 2007 through Multigrain Group, its wholly owned subsidiaries which are involved in grain production and originated in Brazil. Specifically, the Agricola Xingu S.A. , agricultural producer company of Multigrain Group, own farms in 3 states over 116 thousand hectares, focusing on soybean, cotton and corn. Xingu also handles production of non-genetically modified organism (Non-GMO) soybean to export to markets with Non-GMO demand, such as Japan, etc.

The Joint Venture Company will lease a part of Xingu's farm (22 thousand hectares) and start agricultural production in October 2013. Mitsui and SLC are aligned towards expanding the business in multiple locations of Brazil.

The global demand for grain is expected to increase as population grows and as the economies of emerging countries continue to improve. Mitsui will strive to strengthen its agricultural production business in Brazil, which has high potentiality to enhance a stable supply of "safe and secure" grains to Japan, Asian and other markets.

About Mitsui

MITSUI & CO., LTD. (TSE:8031; NASDAQ:MITSY) is one of the world's most diversified and comprehensive trading, investment, and service enterprises. Headquartered in Tokyo, Japan, Mitsui maintains a global network of 159 offices in 67 countries, and has 479 subsidiaries and associated companies worldwide. The Company's main businesses include sales, manufacturing, export / import, international trade and services in the following fields: metal products and minerals, machinery, electronics and information, chemicals, energy, consumer products and services such as retail, foods, textiles & fashion, general merchandise and various other areas, along with financial markets and logistics & transportation. Mitsui is engaged in diversifying services, as it explores and develops natural resources, while making commercial investments in the development of technologies for new businesses, and much more. For additional information, please visit the web site at http://www.mitsui.co.jp/
 


Sept 4, 2013
Source: Mitsui

Mitsui (TSE: 8031) (U.S: MITSY)

From the Japan Corporate News Network
http://www.japancorp.net
Topic: Joint Venture
View more news from these Sectors: Agri Business


 
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