Cargill and TTS investment will double the storage capacity of grain terminal Canopus Star JV at Constanta
Constanta, Romania – July 22nd, 2013. Cargill and its joint-venture partner Transport Trade Services (TTS) have reached an agreement to invest EUR 15 million to expand the grain terminal, Canopus Star SRL at the port of Constanta. This will increase the operating capacity of the grain terminal from 50,000 tons to over 110,000 tons storage capacity. The investment is expected to be finalized by mid 2014.
The partnership between Cargill and TTS goes back to 2008 and this expansion project is proof of this continuing successful collaboration. Canopus Star will be a high performing facility with a lot of flexibility on the outtake and intake from the warehouse.
Martin Schuldt, President of the Board of Cargill Oils S.A., commented on the investment: “Cargill has a strong presence in Romania and it remains a strategically important country for us. We will continue to grow our local business, as previously announced, and this project is part of our expansion plans. We are pleased to develop such successful partnerships with local companies that share our values and the same client service dedication.”
Cargill’s silos have become a benchmark in the storage sector in Romania, in terms of execution in proper conditions and at a high level of professionalism of the operations of determining products’ quality at reception / delivery as well as operations of drying, conditioning and preserving the products during storage.
“The investment in Constanta is complementary to the whole logistics chain that TTS offer to its clients. Together with the river shipping, operation in the Danube ports, direct transhipment with the floating cranes in Constanta, this investment will help optimizing the structure of the services, better performance, speed and quality for the customers. Having Cargill along with us in this investment is a privilege and advantage at the same time.” says Mircea Mihăilescu, President of TTS Group.
The investment fits with Cargill’s strategy to continue to focus on the growth and development of its agricultural businesses in Romania.
Notes for editors:
Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services. Founded in 1865, the privately held company employs 142,000 people in 65 countries. Cargill helps customers succeed through collaboration and innovation, and is committed to sharing its global knowledge and experience to help meet economic, environmental and social challenges wherever it does business.
For more information, visit http://www.cargill.com
Cargill in Romania
Cargill has been active in Romania since 1996, is headquartered in Bucharest and now has around 900 employees in 23 locations in the country. The company has activities in grains and oilseeds, bottled and refined oils and animal nutrition.
For more information, visit http://www.cargill.ro
Transport Trade Services (TTS)
TTS is a freight forwarding company active in the market of multimodal transport in Eastern Europe.
TTS has been founded in 1996, headqurtered in Bucharest and together with its subsidiaries has 1280 employees acting in the following areas:
- Danube shipping and brokerage of bulk and palletized goods,
- Handling of goods in Danube ports in own terminals – Braila, Oltenita, Giurgiu and Turnu Severin
- Handling of goods and Constanta in own terminals and with floating cranes all over the port
The constant expansion of the TTS’s business has encouraged IFC (International Finance Corporation) member of the World Bank Group to become a 10% shareholder in the company, providing capital to the group to continue its expansion of intermodal operations in the Danube/Black Sea region.