The agro-exporter of national capital bought the land from the Canadian firm Nutrien, which this year decided to leave the country.
Molinos Agro is among the top 10 agro-exporters in Argentina.
The national capital firm, led by Luis Pérez Companc, Molinos Agro, closes 2024 to pure investment. He took advantage of the fertilizer company Nutrien’s departure from the country and bought 220 hectares located in the province of Santa Fe for which he paid US$26 million.
As announced by the company in a statement sent to the National Securities Commission (CNV), “this acquisition aims to contribute to the company’s growth objective.” The lands are located in the towns of Timbúes and Puerto General San Martín in the department of San Lorenzo in the province of Santa Fe, a key area of Argentine agribusiness and where Molinos Agro concentrates a large part of its assets.
Just months ago, the Canadian capital firm They nourishworld leader in the business of fertilizers for the field, formally announced that abandoned its retail operation in Argentina and that within this plan it would seek to divest its local assets. After several years of negative results in the country, the multinational decided to focus its strategy on the Brazilian market.
Specifically, In Argentina, the company had been reporting, as can be seen from its global balance sheet, various financial problems, Last year alone, it lost US$92 million because it was forced to operate in the CCL to be able to access foreign currency.
Meanwhile, Molinos Agro, based on this investment and others made years ago, seeks to consolidate itself as one of the main agro-exporters in the country.s. Although the agricultural business is showing weaknesses, with falling international prices, this disbursement can be read as a strong bet on the country by the national capital company.
The truth is that, Molinos Agro maintains an important position in the Argentine agro-export market with a participation of around 13% in soybean grinding.. In addition, the company is among the main producers and exporters of soybean oil and meal in Argentina. Meanwhile, it has a plant with an installed grinding capacity of 6 million tons and is among the 3 most efficient in Argentina, allowing utilization levels above 80%.
The key fact is that The company has strong financial flexibility based on access to national and international credit markets, with credit lines totaling US$1,419 million, including a US$250 million line with the Inter-American Development Bank for the increase of exports. This makes it possible to finance working capital requirements, stabilize seasonal movements and mitigate the volatility of flows to which the agroindustrial sector is exposed.
Source: Ambito
