Posco Daewoo acquires controlling stake in Ukraine grain terminal

By Lim Chang-won Posted : February 13, 2019, 12:58 Updated : February 13, 2019, 12:58

[Courtesy of Posco Daewoo]


SEOUL -- Posco Daewoo, a trading company affiliated with South Koren steel giant Posco, has acquired a controlling stake in a grain terminal run by Orexim Group, a leading transshipment and exporting company in Ukraine. The deal underlines Posco's business strategy to become a global grain trader.

Posco Daewoo said Wednesday that it has agreed to buy a 75 percent stake in the grain terminal in Mykolaiv, also known as Nikolaev, which is an important transportation hub of Ukraine. Orexim is modernizing and expanding the terminal to increase its storage capacity.

The agreement allows Posco Daewoo to control the process of purchasing, inspecting, storing and shipping corn, wheat and soybeans produced in Ukraine, along with efficient inventory management. Financial terms were not disclosed.

Posco Daewoo has become the first domestic company to have the operating rights of a grain export terminal abroad, the company said in a sttement, adding the terminal acquisition would contribute to food security of South Korea, a major grain importer.
기사 이미지 확대 보기
닫기