INCHEON, SOUTH KOREA — Posco Daewoo, Korea’s largest trading company and a subsidiary of Posco, has acquired a 75% stake in a grain export terminal in the port of Mykoliv in southern Ukraine from Orexim Group. Financial terms of the transaction were not disclosed.
As part of the deal, Posco Daewoo has secured the operating rights to the terminal, which is located in one of the main export hubs around the Black Sea. Orexim, which is a Ukrainian logistics firm, will keep the rest of the shares, the company said.
Posco Daewoo said the export terminal will be capable of shipping 2.5 million tonnes of grain a year. In addition to providing storage for grain shipments, the terminal also controls processes for purchasing and inspecting grain produced in Ukraine.
Posco said the acquisition of the grain terminal fits within its new growth strategy to position itself as a global grain trader.