Contact:
David Feider, (952) 742-6910, david_feider@cargill.com
Julieta Piox, (952) 984-1410, julieta_piox@cargill.com
Cargill invests in Feed Management Systems, Inc.
MINNEAPOLIS – Cargill announced today that it has entered into agreement with Feed Management Systems (FMS) to invest capital that will help accelerate software development. Pending FMS shareholder approval of the agreement, Cargill will invest capital in exchange for a 25 percent equity stake in FMS with potential for future investment. The investment marks a further evolution of the relationship between Cargill and FMS. In May 2007, Cargill and FMS announced the formation of a marketing alliance and referral program of their software products and processes that support feed management decisions.
“Today’s announcement reflects our commitment to the feed industry, collaborating to develop the next generation of software and create new customer value as our industry evolves,” says Mark Knief, general manager, Cargill Consulting Services. “The difficult market environment provides a compelling need to have more efficient operations. In addition, food safety continues to be a priority for our industry, which requires collaboration in new ways. Our confidence remains in FMS to deliver quality software solutions that address these challenges and support our clients’ success.”
“Feed Management Systems is an innovator in developing software solutions for the feed industry,” said Richard Reynertson, CEO of FMS. “This investment from Cargill supports our shared mission to create additional value for the feed industry. Together with the internal commitment of our own board and existing shareholders, we will be able to accelerate our plans to enhance and offer existing applications for the global feed industry. Our customers expect us to keep pace with their technology demands and stay ahead of advances made by our technology partners, such as Microsoft.”
Feed Management Systems supplies industry-leading software solutions that integrate business processes and data for the global feed industry, including Feed Mill Manager™, Brill Formulation™, Feed Ration Balancer™, Feed Tags™, and Feed eOrder™ solutions. Key industry relationships with industry consultants, feed manufacturers, equipment suppliers, universities and animal production firms have allowed FMS to serve customer needs and deliver market-leading software.
Cargill supplies customers with food, agricultural and risk management products and services across the globe. Within the animal nutrition industry, the Consulting Services group of Cargill provides expertise and processes in nutrition, risk management and production. A few of these processes include the Cargill MAX® system, Cargill AutoCalc® system and Cargill REVEAL system.
For more information, click on the Cargill website at www.cargillcs.com or contact Julieta Piox at 952.984.1410. Additional information about Feed Management Systems is available on its website at www.feedsys.com or by emailing info@feedsys.com.
About Cargill Animal Nutrition:
A business unit of Cargill, Incorporated, Cargill Animal Nutrition (www.cargillanimalnutrition.com) is a customer-focused organization working to bring product and service solutions to producers. Cargill is an international provider of food, agricultural and risk management products and services. With 158,000 employees in 66 countries, the company is committed to using its knowledge and experience to collaborate with customers to help them succeed. For more information, visit http://www.cargill.com.
About Feed Management Systems:
Feed Management Systems, Inc. (FMS) is an award-winning software solutions company and a worldwide leader in solutions that integrate critical information between feed manufacturers and their suppliers and customers. As a Microsoft Gold Certified Partner, FMS has also been recognized by the American Feed Industry Association with their 2004 and 2005 “Food Safety Innovation” awards; Microsoft Business Solutions 2006 Outstanding ISV Partner of the Year – Partner of Choice Award for Excellence; 2006 President’s Club; Computer Reseller News’s 2006 Best in Show – MBS Partner of the Year award; and 2007 Tekne Award Finalist. For more information, visit www.feedsys.com