In this file:
· Cargill plans $37 million investment in Cedar Rapids
· Cargill enters Polish protein market with poultry acquisition
Cargill plans $37 million investment in Cedar Rapids
Most would go to equipment upgrade at soybean plant
B.A. Morelli, The Gazette (IA)
Jan 7, 2018
CEDAR RAPIDS — Agricultural giant Cargill is proposing a multimillion upgrade to its soybean processing plant in Cedar Rapids.
The Minneapolis-based company plans a $37.62 million expansion and facility modernization to what is called the Cedar Rapids east soybean facility at 410 C Ave. NE, in an industrial section north of downtown near Cedar Lake.
“The potential investment is more about upgrading our equipment to continue to provide employees a safe place to work, while also increasing our efficiency,” said Victoria Bagley, a Cargill spokeswoman.
Cargill is seeking a resolution of support for a Business Financial Assistance Application to the Iowa Economic Development Authority for tax credits under the state’s high-quality jobs program. Cargill also is asking the city for a local match if it receives the state grant of $429,800, estimated to be worth $367,700 in tax breaks over 10 years.
The City Council is scheduled to vote on the plan when it meets at noon Tuesday at City Hall, 101 First St. SE.
“It says a lot about Cargill’s commitment to the area,” said Ron Corbett, business retention and expansion strategist for the Cedar Rapids Metro Economic Alliance. “This is a great way to start the new year with a $37 million investment by one of our anchor companies.”
Such an investment also supports a secondary economy...
Cargill enters Polish protein market with poultry acquisition
By Flora Southey, Food Navigator
US-headquartered Cargill has completed the acquisition of Polish food and fresh chicken firm Konspol, adding a feed mill, broiler farms, and processing plants to its Global Poultry network.
According to the deal, first announced in September last year, Cargill Global Poultry will integrate Konspol’s Polish assets into its European business, including Konspol’s branded and private label goods in chilled convenience, frozen and cold cut categories.
The acquisition also comprises one feed mill, five broiler farms, and two processing plants, which Cargill said increases its production and export capacity across Europe.
“The acquisition is an excellent fit with Cargill’s Global Poultry business and brings together two organisations with strong talent, broad customer bases and robust innovation capabilities,” a Cargill spokesperson told FoodNavigator.
“We are eager to expand Konspol’s proven innovation pipeline and the company’s winning production process.
“By growing our capabilities, we will be able to better meet our customer’s needs and deliver more value to customers and consumers across Europe.”
Approximately 1,700 Konspol employees will transfer to Cargill, taking the multinational’s staff numbers in Poland up to 3,400.
Financial terms of the transaction were not disclosed.
Cargill’s protein boost ...