Cargill to acquire Schreier Malting Co
Schreier comprises a malt production facility in Sheboygan and an elevator and procurement office in Minneapolis, MN; a 51% share of Prairie Malt Ltd., a malt production facility in Biggar, Saskatchewan, Canada; a 45.3% controlling share of CUC Malt Ltd. – Nanjing, a malt production company in Nanjing, China.
“The agreement with Cargill culminates a thorough search for a company much like Schreier – a company with a long and stable history and a dedication to excellence at the core of its culture,” said Thomas Testwuide, Sr., president and chief executive officer at Schreier. “Schreier was founded in 1856, Cargill in 1865. Both companies are privately held and both grown from modest beginnings to global stature. We are confident we are leaving our customers in the hands of a company that will serve them well far into the next century.”
After the acquisition, Testwuide will serve as a director of Ladish Malting Co., Prairie Malt Ltd. and CUC Malt Limited – Nanjing.
“Schreier’s reputation for dependable customer service and total quality will complement our North American marketing efforts,” said Craig Reiners, president of Ladish Malting Co., a wholly-owned U.S. subsidiary of Cargill. “SMC’s joint ventures in both Canada and China will provide the necessary platforms to serve our customers throughout the world.”
Cargill’s Worldwide Malt Division has malt plants in Herent, Belgium; Strasbourg, France; Salzgitter, Germany; Swalmen, the Netherlands; Madrid, Spain and a facility under construction in Bahia Blanca, Argentina, that is scheduled to open in the spring of 1998.
In the United States, Cargill’s Ladish subsidiary has plants in Jefferson Junction, WI, and Spiritwood, ND.
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