Marubeni Corp. announced on Nov. 25 the acquisition of Terlogs Terminal Maritimo Ltda., which has been operating a grain export elevator in the port of Sao Francisco do Sul, Santa Catarina, Brazil.
It marks the first time that a Japanese firm has acquired a 100 percent ownership stake in a grain export elevator operation in Brazil.
In 2005, Marubeni first acquired 25.5 percent of the shares of Terlogs, as Brazil was becoming an important grain supplying country.
With China and Southeast Asia recently significantly increasing their demand for grain, Marubeni said it desperately needed to increase its grain supplying ability in Brazil.
Marubeni said it will improve the operation and efficiency of the export elevator in cooperation with Brazilian company Litoral Solucoes em Comercio Exterior, a major port service supplier and logistics expert in southern Brazil.
Marubeni handled 20 million metric tons of grains in 2010 and with this acquisition, its goal for 2012 is 25 million metric tons.
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