A statement by the companies noted a joint venture between the two would leverage Bartlett’s North American agriculture supply chain and operational capabilities together with POSCO’s global ag network and market expertise to drive growth and new business opportunities. A joint venture would also be synergistic with the companies’ shared emphasis on sustainability and supporting growing international markets for grain and renewable transportation fuels.
“With 116 years of experience sourcing, transporting and processing grain for customers across North America, and our soybean crushing facility in Southeast Kansas coming online in 2024, we’re excited to explore this opportunity with POSCO International to expand our business into global markets,” said Bob Knief, president of Bartlett.
POSCO's vice chairman and CEO Jeong Tak said partnering with Bartlett would strengthen its North American supply chain connections and market position.
"The future of humanity depends on people having access to sustainable sources of food and energy, and the work we do everyday plays an important role in making sure this can happen for millions of people around the world," said Tak.