Press Release

    Olam and Lansing to Form 50/50 Grain Origination and Merchandising Joint Venture in Canada

    Press release

    Olam International Limited (“Olam“), a leading global integrated supply chain manager and processor of agricultural products and food ingredients, and Lansing Trade Group LLC (“Lansing“), a leading independent commodity merchandising company in the US, announce the intention to form a 50/50 joint venture (“JV”) to originate and merchandise Canadian grains and oilseeds.

    The JV, to be known as Lansing Olam Canada, will combine the global market presence, captive consumption and customer relationships of Olam with the North American merchandising skills and experience of Lansing.  The complementary fit provides a strong platform to establish a meaningful position in the liberalised Western Canadian Grains market place.  Lansing Olam Canada will focus on merchandising Canadian grains and oilseeds to meet the food and feed demand in North America as well as international markets. Customers will benefit from the relationship focus and extensive combined network of Lansing and Olam.

    Bill Krueger, President and CEO of Lansing Trade Group said: “We believe the individual company strengths of Lansing and Olam together will be able to deliver innovative solutions from origin to destination for the western Canadian grain customers much like Lansing has done in Ontario since those markets were opened up to free trade.”

    KC Suresh, President and Global Head of Olam’s Grains Business said: “The JV will leverage Olam’s in-house milling demand in Africa, its rapidly growing global trading platform and customer base along with Lansing’s deep knowledge of North American market. This will enable the JV to become a valuable contributor in the liberalised market.”

    Lansing Olam Canada is expected to commence operations in July 2012.

    The JV is not expected to have any material impact on the net tangible assets and earnings per share of Olam for the financial year ending 30 June 2012 and no directors or substantial shareholders of Olam have any direct or indirect interest in the aforesaid transaction.



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