Noble opens grain and oilseed complex in Argentina
13 April 2010 Hong Kong
Noble Group (SGX: N21), a leader in managing the global supply chain of agricultural, energy, metals and other natural resources, is pleased to announce the start up of its new Oilseed Processing Complex, signifying its continued investment and expansion in Argentina. The complex, built adjacent to the Timbúes Port Grain Terminal, also establishes Noble’s first South American oilseed processing facility and expands the Group’s capabilities.
Since 2006, the Timbúes Port Grain Terminal has served as a key operational platform on the Paraná River, occupying 231 hectares and 2,100 metres of waterfront, making it the largest in Noble’s network of owned and operated facilities in South America.
The Oilseed Processing Complex has a present crushing capacity of approximately 3 million metric tonnes of soybeans per year and processes soybeans into high-protein soybean meal, pellets and soybean oil for export. In addition, it has a loading capacity of 5 million metric tonnes per annum. The facility is expected to enhance operating margins and increase efficiency of supply to Noble’s global customer base.
“At over 200 hectares, the Timbúes Port Terminal and Oilseed Processing Complex, is our largest facility in South America, with about half of the site still available for future expansion,” said Noble Group Chairman, Richard Elman. He added, “The world has a growing appetite and we are well positioned to supply oil, meal, corn and grains globally.”
Argentina is one of the world’s lowest cost soybean producers and has seen its crop triple since the mid 1990's to a present record 55 million metric tonnes. Argentina is also the world’s largest soybean meal and soybean oil exporter.
As an alternative to burning natural gas or fuel oil to power the Timbúes Complex, Noble has installed a state-of-the-art biomass boiler. Powered by locally sourced wood chips, it will satisfy the plant’s electrical and steam power needs, while minimizing the impact on the environment.
This announcement is not material for the purpose of the Singapore Exchange Listing Rules.
About Noble Group
Noble Group (SGX: N21) is a market leader in managing the global supply chain of agricultural, energy, metals and mining resources. The Group operates from over 150 offices and plants in 38 countries, employing approximately 70 nationalities and serving more than 4000 customers. Noble manages a diversified portfolio of essential raw materials, integrating the sourcing, marketing, processing, financing and transportation. With 2009 annual revenues exceeding US$31billion, Noble owns and manages an array of strategic assets, sourcing from low cost producers such as Brazil, Argentina, Australia and Indonesia and supplying to high growth demand markets including China, India and the Middle East. Today, Noble has interests in grain crushing facilities, coal and iron ore mines, fuel terminals and storage facilities, sugar and ethanol plants, vessels, ports and other infrastructure to ensure high quality products are delivered in the most efficient and timely manner to its customers.
In late 2009, Noble Group was honored at the DHL SCMP Hong Kong Business Awards by winning the coveted International Award. During the year, Noble ranked #218 on the Fortune Global 500 and achieved "Investment Grade" ratings (Baa3) from Moody's Investors Service and (BBB-) from Standard & Poor's, complementing its initial "Investment Grade" rating (BBB-) from Fitch the previous year. In addition, Noble appears on the Forbes Global 2000 and Forbes Fab 50 lists of leading companies. Noble Group is among the 30 securities listed on the Straits Times Index.
For further details please contact:
Mr. Stephen Brown
Mr. Brad Smolar