Parrogate Ginnery Ltd. to buy Cargill’s cotton gin and maize mill in Chipata, Zambia
CHIPATA, Zambia. August. 30, 2017– Cargill has reached agreement with Parrogate Ginnery Ltd. to purchase Cargill’s cotton gin, maize mill as well as land, buildings and equipment associated with Cargill’s operations in Chipata, Zambia. The transaction is subject to clearance by the relevant competition authorities.
In Parrogate Ginnery Ltd., Cargill has found a buyer who will secure a future for the cotton and maize operations in Chipata. Parrogate Ginnery Ltd.’s extensive experience with cotton origination and ginning operations in Zambia, Zimbabwe and Malawi, as well as its considerable network in the region will allow it to successfully continue operations in Chipata. Once the transaction is completed, Parrogate Ginnery Ltd. would run the cotton gin and maize mill as a viable business operation, providing cotton seed to farmers and buying cotton for the gin from the local communities.
Cargill’s other business activities in Zambia are not impacted by this transaction and the company will continue to purchase and trade agricultural commodities including maize, soybeans and sunflower, from both commercial and small-scale farmers in Zambia, as well as operating its soybean crush facility in Lusaka.
Cargill provides food, agriculture, financial and industrial products and services to the world. Together with farmers, customers, governments and communities, we help people thrive by applying our insights and 150 years of experience. We have 150,000 employees in 70 countries who are committed to feeding the world in a responsible way, reducing environmental impact and improving the communities where we live and work. For more information, visit Cargill.com and our News Center