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Contacts:
Bill Brady, 952-742-6608
Maria Miessva, Cargill Brazil, 55-11-5099-3012
David Mason, Kaufman Holdings, 732-738-3553
Cargill, Hatco Joint Venture Breaks Ground on Ester Plant in Brazil
MAIRINQUE, São Paulo state, Brazil — November 17th, 2003 — Cargill Agricola, S.A., and Kaufman Holdings, parent company of Hatco Corporation, today announced the formation of a joint venture, Innovatti-Industria e Comercio de Esteres Sinteticos, Ltda. The joint venture will serve South America with high performance synthetic esters and formulated lubricants for automotive, industrial, metalworking and oil drilling applications.
Construction has begun on a new manufacturing facility adjacent to an
existing Cargill oilseed processing plant in Mairinque, Brazil.
The facility will have an initial capacity of about 10,000 metric tonnes per year, with the ability to expand when demand dictates. The plant is expected to be fully operational and delivering product to customers by mid-2004.
“We are enthusiastic about providing an opportunity for this region to develop, formulate and manufacture products that are only imported today,” said Innovatti Director Etore Silva. “This endeavor will bring new technology to the region as well as new people, well trained to serve their customers with high–performance products. Our customers will benefit from a local supplier finding solutions to their needs.”
This pioneering entry into the Latin American market will combine Cargill’s strength in processing vegetable oils with Hatco’s expertise in developing and marketing synthetic esters. Led by a board of directors with equal membership from Cargill and Hatco, the company will focus its marketing efforts on Brazil, Argentina, Chile and Venezuela.
“Innovatti will draw on South American feedstock to serve South American customers from an accessible South American location,” said Kurtis Miller, head of Cargill Industrial Oils and Lubricants. “The plant is designed to world-class manufacturing standards to ensure the highest product quality and consistency. We couldn’t be more excited and look forward to providing our customers with high performing synthetic esters and lubricants that have the added environmental benefit of coming from a renewable plant source.”
Alex Kaufman, chief executive officer of Kaufman Holdings, said, “We are pleased to join with Cargill Agricola to meet the rapidly growing Latin American synthetic esters and lubricants market and the needs of South American customers. This joint venture with a partner that produces many of our key raw materials provides the basis for success and completes a critical phase of our long-term growth plan. Establishment of Innovatti will bring about substantial advantage to both parent companies and strengthen the potential for sustainable development.”
For more information on the biobased lubricants soon to be available from Innovatti,
contact Etore Silva in Sao Paulo at 55-11-5099-3750.
About Kaufman Holdings (www.kaufmanholdings.com)
Kaufman Holdings is an independent global producer of various specialty chemicals for use in the industrial lubricants, automotive, aviation, refrigeration, cosmetic and personal care markets. The Corporation consists of a holding company and three independent operating units that supply a diverse range of products and services through a global network of integrated sales, production, research, technical service and distribution facilities.
About Cargill Industrial Oils & Lubricants (www.cargill.com)
Cargill Industrial Oils & Lubricants is a leading supplier of natural fats, oils and environmentally advantaged products to industrial markets. It is a business unit of Cargill, Incorporated, an international marketer, processor and distributor of agricultural, food, financial and industrial products and services with 98,000 employees in 61 countries. The company provides distinctive customer solutions in supply chain management, food applications, and health and nutrition.
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