Bunge Agreement Terminated by MnSPPublished by on
(MNSoy.com) -- In 2007 MnSP entered into a Management Services Agreement with Bunge North America, Inc.
In the terms of that agreement Bunge N.A. assisted MnSP in developing its own management and financial team and provided MnSP commercial and risk management services. That agreement was very beneficial to both MnSP and Bunge N.A.
In the last 6 years MnSP has grown and matured beyond what many had thought possible. Much of the credit for this goes to the hard work and dedication of the employees, management and directors of MnSP. Credit is also due to the knowledge and expertise Bunge N.A. shared with MnSP on many levels.
The vision of the MnSP Board of Directors has always been to be an independent company with the ability to control its own destiny. With the increased financial stability, and management and operational expertise, MnSP had developed in the last 6 years that time has come. In July 2013 MnSP exercised its right to end the Management Services Agreement with Bunge N.A. by serving them with the required 6 month notice as provided by our agreement.
MnSP has put together a tremendous team of Commercial/Marketing Managers to bring us through this transitional time and into the future.
Rob Hofstra has been hired by MnSP as our Commercial Manager. Rob has served MnSP in this same position for the past 6 years but as a Bunge employee. Rob has been with Bunge for over 16 years and held various positions within the organization. As of the end of the Bunge Marketing Agreement he will become a MnSP employee. Rob has vast knowledge of the industry and will continue to be a great asset to our management team.
MnSP has also hired Tom Rodis as our Commodity Products and Risk Manager. Tom has been in the industry for over 20 years and has a vast knowledge of the crushing industry. He will add great strength to our merchandising groups, domestic and export meal trading as well as our hedging program and be working closely with Rob Hofstra. Tom has worked with various companies in the industry and was most recently employed by Bunge, Council Bluffs, until June of this year. While at Council Bluffs he helped put together the original marketing agreement between MnSP and Bunge. Over the past few years he has become very familiar with our plant and employees.
After January 31, 2014, MnSP will become, in all aspects, an independent company handling all decisions involving its future. I am confident with the team MnSP has in place and look forward to a successful future together!
MnSP General Manager
August 26, 2013