Cargill Profile

Saturday, October 06, 2007

Cargill heirs

Cargill MacMillan Jr is ranked together with Whitney MacMillan in 135th place in Forbes 2007 list of the 400 richest ‘Americans’ with $2.8 billion each from inheritance.

Cargill Canada

Cargill bought nine grain terminals this year, boosting its capacity by 40%. Dispensing of the terminals was part of the deal required with the formation of Viterra, the new company formed when Saskatchewan Wheat Pool bought out Agricore United earlier this year. As a result, Cargill will have 16-17% of the Canadian grain handling market. Viterra expects to hold about 40% of the market. As part of the deal forming Viterra, Saskatchewan Wheat Pool had to sell its North Shore terminal in Vancouver. Cargill was the buyer. Cargill CEO Len Penner says Cargill intends to continue its expansion in Canada and will double the capacity of its canola crushing operations at Clavet, Saskatchewan, next year. Cargill is the largest beef processor in Canada, primarily through its plant in High River, Alberta, but it also owns Better Beef in Ontario and processes 98% of the federally inspected beef in Ontario. Cargill Canada has sales of about $4.5 billion annually, with about 10,000 employees in Canada.