Corporate market news for Jan 2004 CGC Bond Covers 7 Alberta Oats Limited Growers WINNIPEG - Jan 1/04 - SNS -- Seven of 10 grain producers with outstanding claims against the Edmonton-based Alberta Oats Limited will be fully covered by the bond the company had posted with the Canadian Grain Commission (CGC) to cover grower liabilities. . . . Continue or visitors click here ADM Volkswagen Research Biodiesel DETROIT - Jan 5/04 - SNS -- Archer Daniels Midland Company (ADM) and Volkswagen AG entered a joint research agreement aimed at further developing and utilizing biodiesel fuels for the automotive industry. . . . Continue or visitors click here Dawn Foods Completes Bunge Bakery Purchase WHITE PLAINS - Jan 5/04 - SNS -- Dawn Food Products, Inc. has completed its purchase of the U.S. bakery division of Bunge Limited subsidiary Bunge North America. . . . Continue or visitors click here Agricore United Boosts Revenue Insurance Coverage WINNIPEG - Jan 5/04 - SNS -- Agricore United increased the size of the insurance plan covering the company's revenue risks. . . . Continue or visitors click here International Multifoods Reports Third Quarter Profit MINNEAPOLIS - Jan 6/04 - SNS -- International Multifoods Corp. reported third-quarter fiscal 2004 net earnings of $14.2 million, a solid improvement on the $10.6 million earned the previous year. Net sales in the current quarter were $273.7 million,down from $301.2 million in the prior year. . . . Continue or visitors click here Intrade Risk Discontinues Operations GENEVA - Jan 9/04 - SNS -- Intrade Risk Management and its affiliate August Trading are discontinuing their grain, oilseed and sugar trading activities under an agreement with Australia's Macquarie Bank, one of the company's major shareholders. . . . Continue or visitors click here Cargill Reports 62% Earnings Jump MINNEAPOLIS - Jan 13/04 - SNS -- Cargill reported a 62% jump in earnings from continuing operations for the 2004 second quarter ended Nov. 30. They climbed from $316 million in the same period a year ago to $513 million. . . . Continue or visitors click here Oestreich Named President Pioneer Hi-Bred International WILMINGTON - Jan 13/04 - SNS -- Dean C. Oestreich is the new president of Pioneer Hi-Bred International, Inc., a wholly owned subsidiary of DuPont. He also becomes a DuPont vice president and general manager. . . . Continue or visitors click here MGEX Elects Michael Krueger to Board MINNEAPOLIS - Jan 14/04 - SNS -- The Minneapolis Grain Exchange (MGEX) elected Michael Krueger, founder and president of The Money Farm, to serve as a nonmember director on its board of directors. . . . Continue or visitors click here Cargill Buys The Duckworth Group COBHAM - Jan 15/04 - SNS -- Cargill bought The Duckworth Group (TDG), a leading favor company supplying the food and beverages industry in Western Europe, Africa, India and the Middle East. . . . Continue or visitors click here Cargill Buying Agway Animal Feed Unit MINNEAPOLIS - Jan 20/04 - SNS -- Cargill Animal Nutrition has signed a purchase agreement for the assets of Agway Animal Feed and Nutrition from Agway, Inc. . . . Continue or visitors click here MGP Raising Production Capacity ATCHISON - Jan 20/04 - SNS -- MGP Ingredients, Inc. will spend another $900,000 to expand specialty wheat starch production capabilities at its plant here. . . . Continue or visitors click here Popcorn Board Members Named WASHINGTON - Jan 21/04 - SNS -- Three members of the U.S.-based Popcorn Board were reappointed. . . . Continue or visitors click here Michigan Bean Commission Appointments LANSING - Jan 23/04 - SNS -- Governor Jennifer Granholm appointed two new members to the Michigan Bean Commission and reappointed two others. . . . Continue or visitors click here Kirin Buys Into Into Koiwai Dairy TOKYO - Jan 23/04 - SNS -- Kirin Beverage Corp. intends to buy 780,000 shares from Koiwai Dairy Products Co for 2.39 billion yen on April 1 to give it a 50.98% stake in the dairy product maker. . . . Continue or visitors click here Nestle Opens Food Research Center GENEVA - Jan 26/04 - SNS -- Nestlé S.A. has opened a new EUR 22 million center for global culinary research at Singen, Germany, says Peter Brabeck-Letmathe, Vice-Chairman of the Board and Chief Executive Officer. . . . Continue or visitors click here Tyson Foods Posts $57 Million Net SPRINGDALE Jan 26/04 - SNS -- Tyson Foods, Inc. reported a U.S. $57 net income on first quarter sales of $6.51 billion, up from $39 on $5.8 billion in sales during the same quarter last year. . . . Continue or visitors click here Chiquita May Sell Colombian Operations CINCINNATI - Jan 26/04 - SNS -- Chiquita Brands International, Inc. confirms it is trying to sell its banana-producing and port operations in Colombia to Invesmar Ltd., the holding company of C.I. Banacol S.A. C.I. Banacol S.A. is a Colombian-based producer and exporter of bananas. . . . Continue or visitors click here Cargill Helps Create Fertilizer Giant MINNEAPOLIS - Jan 27/04 - SNS -- For the first time in its 139-year history, Cargill will spin off part of its operation to create a news, publicly traded company. . . . Continue or visitors click here CN-CAW Reach Accord MONTREAL - Jan 27/04 - SNS -- Canada's CN Rail and the Canadian Auto Workers (CAW) union have successfully negotiated new three-year labor agreements to replace ones which expired the end of last year. . . . Continue or visitors click here Rotterdam Container Capacity Expansion ROTTERDAM - Jan 27/04 - SNS -- The Interforest Terminal an the Eemhaven area is tripling its container handling capacity to 90,000 TEU per year as part of a US$16.35 million construction program. . . . Continue or visitors click here CWB Slashes Workforce 20% WINNIPEG - Jan 27/04 - SNS -- The Canadian Wheat Board (CWB) will slash the number of staff positions by 20% or 135 individuals by July, says President and CEO Adrian Measner. . . . Continue or visitors click here ADM, Marubeni Marketing Agreement DECATUR - Jan 27/04 - SNS -- Archer Daniels Midland Company and Marubeni have entered a marketing agreement covering the sale of specialty grains and oilseeds in Japan. . . . Continue or visitors click here Bader Named CEO of Cargill Dow MINNEAPOLIS - Jan 28/04 - SNS -- Kathleen M. Bader is chairman, president and CEO of Cargill Dow LLC., a 50-50 joint venture between The Dow Chemical Company and Cargill Incorporated. . . . Continue or visitors click here Kellogg Reports Lower Quarter, Bigger Year BATTLE CREEK - Jan 29/04 - SNS -- Kellogg Company reported net earnings for its 2003 fiscal year, which ended December 28, totalled $787.1 million, or $1.92 per diluted share, a 10% increase from last year's $720.9 million, or $1.75 per share. . . . Continue or visitors click here CFTC Mad Cow Probe WASHINGTON - Jan 29/04 - SNS -- The U.S. Commodity Futures Trading Commission (CFTC) is investigating the chance certain commodity traders had advance knowledge of an announcement last month that "mad cow" disease had been found in a cattle herd in the northwestern U.S. . . . Continue or visitors click here Loeb Heads Chiquita's European Operations CINCINNATI - Jan 29/04 - SNS -- Chiquita Brands International, Inc. named Michel Loeb president of Chiquita Fresh Group – Europe. . . . Continue or visitors click here Port of Vancouver Handles 6% More Cargo VANCOUVER - Jan 29/04 - SNS -- Canada's Port of Vancouver reported a 6% increase in total shipping volumes through the port to 66.7 million metric tons (MT) and record container shipments of 1.54 million TEUs (twenty-foot equivalent units). . . . Continue or visitors click here Almond Broad Elections Underway MODESTO - Jan 30/04 - SNS -- Mail in voting got underway today to elect two independent grower members and alternates and one independent handler member and alternate to serve as directors for the Almond Board of California (ABC) during the 2004-05 crop year. . . . Continue or visitors click here ADM Reports 68% Jump in Profits DECATUR - Jan 30/04 - SNS -- Archer Daniels Midland Company reported a second quarter operating profit of $495 million or 34 cents per share, sharply higher than the $297 million or 20 cents per share reported during the same quarter last year. . . . Continue or visitors click here New Terminal at Yangzhou BEIJING - Jan 30/04 - SNS -- A new terminal capable of handling 550,000- metric tons (MT) of cargo annually opened this week at the Port of Yangzhou. . . . Continue or visitors click here
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