Sodrugestvo Group Expands Into the United States With Stake in North Dakota Canola Crushing Plant

KALININGRAD, Russia and NEW YORK, July 1 /PRNewswire/ -- Sodrugestvo Group (www.sodrugestvo.com), a fast-growing agro-industrial company headquartered in Kaliningrad, Russia, has entered the U.S. market by acquiring a minority stake in North Dakota Oilseed Mills, LLC, a joint-venture with Northwood Mills, LLP, a canola crushing plant based in Northwood, North Dakota near Grand Forks.

"North Dakota is a leading region for U.S. agriculture, including being the leading state for canola, wheat, barley, sunflower and flaxseed. This connection with our already flourishing oilseed business and our operations in Brazil expands our footprint into the United States and the rest of the Americas," said Stephane Frappat, CEO of Sodrugestvo.  

Sodrugestvo acquired 26 percent of North Dakota Oilseed Mills. It will provide working capital to restart and maintain operations with plans to oversee expansion in the near future.  Northwood Mills employs 24-persons; they will all remain on including the management team led by General Manager Geoff Bengston. Sodrugestvo's advisor in this transaction was Roger H. Frommelt of Felhaber Larson Fenlon & Vogt of Minneapolis.

"We see our North Dakota investment as a significant opportunity both to extend the reach of Sodrugestvo, but to also expand our feedstock, biofuel and other product offerings," said Mr. Frappat.  

About Sodrugestvo Group

Sodrugestvo Group (www.sodrugestvo.com), founded in 1994, is a rapidly growing agro-industrial company serving global markets. The company specializes in the processing of soybeans and rapeseed (canola) for food products and animal feed. In 2009, Sodrugestvo crushed more than 1.1 million tons of soybeans and rapeseed, making it a leading player in Northern, Central and Eastern Europe. The company is vertically integrated with three business units -- specialized infrastructure (including deep-water sea ports), logistics (including railcars and storage facilities) and processing facilities (for the production of proteins and oils from vegetal and animal commodities). The company is also expanding into commodities trading and direct origination capabilities.

Headquartered in Kaliningrad, Russia, the company has 18 facilities located in nine countries including Russia, Denmark, Brazil, the United States and several Eastern European nations.  With consolidated sales of $845 million in its fiscal year ending June 30, 2009, Sodrugestvo has enjoyed average annual growth of 15 percent or more for the last 10 years. Sodrugestvo employs 900 and is privately held.

This release is available online in the Feintuch Communications media room located at www.feintuchcommunications.com.

SOURCE Sodrugestvo Group

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