The Elementa Group acquired industrial assets from the Santa Clara complex, belonging to Molinos Río de la Plata, in the city of Rosario, and announced an investment of USD 100 million aimed at modernizing the facilities and reactivating its milling plant.
The operation includes the storage of grains and the milling and refining plants for oilseeds, whose management will pass to Elementa during November. Once the project is completed, the company projects to achieve a milling capacity of 465,000 tons per year and an oil refining capacity of 170,000 tons per year.
Santa Clara Packaging Plant
The incorporation of the complex represents a significant leap for the Argentine agri-food group, which estimates that it will quadruple its industrial capacity and expand its participation within one of the main agro-industrial hubs in the country.
The announced USD 100 million will be allocated to enhancing the existing infrastructure, incorporating technology, and recovering the productive capacity of the plant.
The investment will also impact the labor market in the region. During the works, more than 120 direct and indirect jobs will be created, with the expected participation of between six and seven local contracting companies.
When the complex fully resumes operations, Elementa projects to maintain between 60 and 65 direct and skilled jobs. Workers currently performing functions at the facilities will continue under the same agreement corresponding to the oil activity, and according to reports, there will be no reduction in personnel.
“Santa Clara has enormous productive potential, and we want to start a new phase for the plant, based on investment, development, and growth,” stated Gastón Saint Paul, Chief Commercial Officer of Grupo Elementa. The executive also stated that the acquisition reflects the company's intention to continue “investing and adding value in Argentina”.
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The operation does not, however, imply the exit of Molinos Río de la Plata from the oil business. The company will retain ownership and operation of the Santa Clara packaging plant and will continue marketing its brands. Both companies agreed to establish a long-term strategic relationship.
While Molinos divests an asset it considers non-strategic and concentrates resources on its growth plans, Elementa incorporates a new industrial platform with which it seeks to deepen its presence in the Argentine agro-industrial chain.
