Agricultural products marketer Cargill's net earnings up 18%
29 Aug '05
3 min read
Among the contributors to Cargill's earnings for the full fiscal year were its animal nutrition, beef, egg product, pork and poultry businesses worldwide; the risk management and financial segment; the global supply chain management network, which includes grain, oilseeds and other commodities and ocean shipping services; food ingredients in Europe; the U.S.- and Latin American-based salt businesses, which manufacture products for food, road deicing and other uses; and the US- and Canadian-based agriculture services units, which offer an expanding family of grain marketing products that help farmers manage their price risk. Prior to its sale in November 2004, the company's steel operations contributed significantly to operating earnings.
Most of the business areas highlighted above also were responsible for Cargill's solid operating results in the fourth quarter.
Fiscal 2005 was a year of expansion for Cargill, especially in emerging markets. The company is adding to its oilseeds operations in Argentina, Brazil, China, India, Romania, Russia and Ukraine.
In meat, Cargill purchased Seara, a leading poultry and pork business in Brazil, and became the sole owner of Finexcor, an Argentine beef processor and exporter. In Canada, it bought Caravelle Foods, a supplier of frozen beef patties to the country's quick-service restaurant industry.
In food ingredients, the company purchased cocoa processing facilities in England and Germany, and a chocolate plant in Germany, which will expand services to confectioners and other food makers in Europe and eastward. Cargill also acquired a pectin business that makes citrus-based texturizers for food and beverage applications.
marketing@alchempro.com
