ADM’s extensive global network will combine with Medsofts’ Egyptian footprint to offer unparalleled commodity merchandising, transportation and delivery services
Archer Daniels Midland Company and Medsofts Group have completed their previously announced transaction, and are launching ADM Medsofts, a 50-50 joint venture that will offer commodity merchandising, transportation and delivery services to customers in Egypt.
'By combining ADM’s global network with Medsofts’ Egypt merchandising and logistics expertise, ADM Medsofts offers customers unparalleled end-to-end supply chain services at competitive prices,' said Joe Taets, President of ADM’s Agricultural Services business unit, and president of ADM’s EMEA operations.
'This new joint venture has the right assets, the right team and the right global resources to serve customers in Egypt. This is an excellent addition that helps meet several of ADM’s key strategic goals as it further diversifies and expands our merchandising footprint, helps us grow our logistics services and represents another important enhancement of our destination marketing capabilities, which are getting us closer to our customers as we deliver products directly to them,' he added.
'We have a great opportunity to grow stronger together,' said Salah Tawfik, CEO of Medsofts. 'We will build on each other’s capabilities, combining expertise and assets to enhance our ability to deliver reliable and efficient value added service to our customers.'
ADM Medsofts owns and manages
In addition, the joint venture also owns a 50% share of Nile Stevedoring & Storage Company (NSSC), which operates one of the largest grain port facilities in Egypt. Located at the Port of Alexandria, the facility has an annual discharge capacity of more than 2 million metric tons, and includes additional land for future expansion.