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ADM SMI Joint Venture in Uruguay
DECATUR - Jun 21/04 - SNS -- Archer Daniels Midland Company (ADM) and Stellamaris Internacional (SMI) will construct and operate a port facility at Nueva Palmira, Uruguay under a joint venture agreement.
ADM will have a 75% interest in the port operations. The new port capacity will serve the growing logistics demands in the Brazilian, Paraguayan, Bolivian and Uruguayan regions.
Construction of the facility is scheduled to begin in July of this year and will be fully-operational by early 2006.
Stellamaris Internacional (SMI) is a Uruguayan holding group and owner of several regional companies. SMI has more than 50 years of experience in ocean vessel activities, port operations and logistics.
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