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Noble Buys Chinese Soy Crusher
HONG KONG - Feb 1/06 - SNS -- Noble Group Limited is buying an integrated soybean crushing and refining plant in the port of Qinzhou, Guangxi Autonomous Region, China, from Siping Hongzui Grease Limited.
The plant will supply soybean meal and oil to customers in southern and central China. Richard Elman, Chief Executive Officer of Noble Group, said, "We expect to supply a significant part of the soybeans for Qinzhou Dayang through our newly built port in Timbues, Argentina, creating an integrated supply chain from field to feed."
The Qinzhou Dayang facility started operations in June 2005 and is located in the growing port of Qinzhou, capable of receiving and discharging panamex sized vessels. The purchase is expected to close in March 2006.
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