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CHS Announces Senior Leadership Team Changes

ALT, FOD, Food and Beverage, PER

ST. PAUL, Minnesota, Aug. 12, 2014 /PRNewswire/ — CHS Inc. (NASDAQ: CHSCP) — the nation’s leading cooperative and a global energy, grains and foods company — today announced that Mark Palmquist, executive vice president and chief operating officer, Ag Business, will leave the organization effective Aug. 31, 2014, to assume the top leadership role with an Australian grain company. Current CHS strategic leadership team member Shirley Cunningham will assume a new role as executive vice president and chief operating officer, Ag Business and Enterprise Strategy.

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Palmquist will become managing director and chief executive officer of GrainCorp, Sydney, Australia, on Oct. 1, 2014.

“We congratulate Mark on this new opportunity and thank him for his significant contributions to CHS and its predecessor organizations,” said CHS President and Chief Executive Officer Carl Casale. “During his 35-year career with our organization, he was instrumental in launching and building the CHS global platform and identifying numerous growth opportunities in our grains and foods businesses that add value for the owners of this cooperative.”

Cunningham, who joined CHS in 2013 as executive vice president, Enterprise Strategy, will continue to lead the company’s Enterprise Strategy functions as well as the newly aligned Ag Business platform which includes International, North America and Agronomy. “Shirley brings significant global strategic and enterprise experience to her expanded role,” said Casale. “Aligning our Ag Business and Enterprise Strategy platforms under Shirley’s leadership will position us well for continued growth on behalf of our owners.”

Newly named leaders for CHS Ag Business platform include:

  • Stefano Rettore, senior vice president, International, responsible for CHS South America, CHS Asia-Pacific and CHS Europe.
  • Gary Anderson, senior vice president, North America Grain Marketing and Processing and Food Ingredients, responsible for North America Grain Marketing, Terminals and Transportation, Business Development, Processing and Food Ingredients, and Ethanol manufacturing.
  • Rick Dusek, vice president, Agronomy, leading Crop Nutrients Supply and Trading, North America Crop Nutrients and Agronomy, which will include additional product and technology offerings.

Cunningham retains responsibility for CHS Information Technology, Human Resources, Enterprise Strategy and Marketing and Communications functions. She assumes her new role on Sept. 1, 2014.

CHS Inc. (www.chsinc.com) is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. Diversified in energy, grains and foods, CHS is committed to helping its customers, farmer-owners and other stakeholders grow their businesses through its domestic and global operations. CHS, a Fortune 100 company, supplies energy, crop nutrients, grain marketing services, animal feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products.

This document contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 that are based on management’s current expectations and assumptions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. The company undertakes no obligations to publicly revise any forward-looking statements to reflect future events or circumstances. For a discussion of additional factors that may materially affect management’s estimates and predictions, please view the CHS Inc. annual report filed on Form 10-K for the year ended Aug. 31, 2013, which can be found on the Securities and Exchange Commission web site (www.sec.gov) or on the CHS web site www.chsinc.com.

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China outstrips Germany to become world’s biggest solar market

ALT, Business, FIN, OIL

Hanergy Holding Group and China New Energy Chamber of Commerce issue Global Renewable Energy Report 2014

BEIJING, Aug. 11, 2014 /PRNewswire/ — Hanergy Holding Group (Hanergy) and China New Energy Chamber of Commerce (“CNECC”), today issued the Global Renewable Energy Report 2014. The report found that China became the world’s biggest market for solar power in 2013, with the country’s newly installed photovoltaic generating capacity jumping 232% on-year to 12 gigawatts (GW).

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Key findings include:

  • The global solar market is shifting from Europe to Asia. China’s newly installed solar capacity grew 232% year-on-year in 2013 to 12GW, whereas Germany’s newly installed capacity fell 56.5% to 3.3GW and Italy’s dropped 55% year-on-year to 1.6GW.  
  • Financing activity reflects this shift. China accounted for the largest proportion of global solar industry financing at $23.56bn, equivalent to the entire amount raised in Europe.
  • The growth of the solar industry continues to accelerate. Globally, newly installed solar capacity reached 38.7GW, bringing the global total of installed capacity to 140.6GW in 2013, compared with 101.9GW in 2012.  
  • The shift from fossil fuel to renewable energy continues. Total global power generation grew 4.3% from the previous year, to 22513.8 terawatt-hours (TWh), while renewable energy power generation grew at 13% per annum, accounting for 5.2% of the world’s total output.
  • Global production of thin-film solar cell was about 4GW in 2013, up 20% from 2012. Many thin-film solar companies expanded capacity in 2013 and sought out diversified markets, achieving economies of scale through global mergers and acquisitions and upgrading production line technology.

“Our research shows that China has already become the world’s biggest solar market. Now the country is moving to a more green and sustainable model of development which will drive future global growth in renewable energy,” Chairman and CEO of Hanergy & President of the China New Energy Chamber of Commerce, Li Hejun said.

“Governments are turning to greater use of renewable energy to tackle pollution and deliver energy security, underpinning growth momentum in the global renewable energy industry,” he added.

The Global Renewable Energy Report drew on data from Bloomberg New Energy Finance, GlobalData and Hanergy and CNECC’s own research teams. Data from the International Energy Bureau, China Electricity Council, US Energy Information Administration, the Global Wind Energy Council, the Global Hydropower Association and the International Geothermal Association were also used.

The full report can be downloaded free of charge from Hanergy’s website:
http://www.hanergy.com/en/upload/contents/2014/07/53bfa4772d9f6.pdf

About Hanergy Holding Group Ltd.

Hanergy Holding Group Ltd. (“Hanergy”) is a global clean-energy power generation company and the world’s largest thin-film solar company and solutions provider. Hanergy engages in the integration of the entire photovoltaic industry chain, covering R&D, high-end equipment manufacturing, PV module production and the construction of photovoltaic power plants. Hanergy possesses industry-leading CIGS thin-film PV technology and has the world’s largest production capacity of thin-film modules. To date, the company has entered into solar-power plant construction agreements with a combined capacity of approximately 10GW. Its business also covers hydropower and wind power. Headquartered in Beijing and with operations across China, the Asia Pacific, North America and Europe etc., Hanergy employs over 10,000 people.

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