Leading farmer-owned cooperative of USA, CHS and France-based cooperative InVivo Group announced the formation of their new partnership ICGrain to originate grain from Hungarian producers for export.
CHS Inc., North America's leading farmer-owned cooperative and a global grain and foods company, and InVivo Group, the leading agricultural cooperative group in France, announced the formation of ICGrain to originate grain from Hungarian producers for export to global food and feed companies.
Assets included in the agreement are the CHS inland silo at Oroshaza, Hungary, and the InVivo river terminal at Baja on the Danube River. ICGrain, which will be equally-owned by CHS and InVivo Group, will manage its own hedging, logistics, quality assurance, and barge loading. ICGrain headquarters will be at Budapest, Hungary.
"Our new partnership with InVivo adds tremendous value to our member-owners and customers because it extends CHS grain origination, creates access to additional inland river ports and improves barge delivery to the CHS Silotrans facility at Constanta, Romania, and to other Northern European markets," says Roger Baker, CHS Europe, vice president and general manager, at Geneva, Switzerland.