FCStone Group, Inc. (NASDAQ: FCSX), a commodity risk-management firm, today announced that it has acquired Elders Risk Management Pty Ltd, an Australian-based company that specializes in risk management for the producers and users of agricultural commodities, including grains, livestock, cotton and wool.

Elders Risk Management Pty Ltd had been a part of Elders Limited, an agribusiness services organization headquartered in Adelaide, Australia that, in turn, is a subsidiary of Futuris Corporation Ltd (Australian Stock Exchange: FCL), Australia�s largest agribusiness holding company.

Elders Risk Management Pty Ltd. has changed its corporate name to FCStone Australia Pty Ltd, and will join FCStone�s other offices and divisions throughout the world, including its offices in China, Brazil, Ireland, and Canada, in providing its clients with access to global risk-management capabilities.

�We see this acquisition as a natural geographic extension of our core domestic and overseas risk-management business,� commented Pete Anderson, FCStone�s Chief Executive Officer.

Anderson added, �As the agricultural industry becomes increasingly internationalized and interconnected, we intend to stay ahead of the curve by increasing our capabilities in the world�s major agricultural regions. Australia is a key part of that strategy because it is one of the world�s most important producers of a wide range of agricultural commodities.

�As FCStone continues to expand its presence across the globe,� Anderson said, �FCStone Australia will put us in position to provide more extensive risk-management services to agribusiness organizations throughout Asia and Oceania, as well as provide new opportunities to our existing clients around the world.�

Elders� decision to sell the risk management operations to FCStone is a result of a shift back to the core services of Australia�s leading agribusiness service provider. �Elders is refocusing on what is does best, that is the provision of agricultural inputs, technical services and marketing options for our core agricultural markets,� said John Molenaar, Elders Rural Services� Head of Australia.

Mr. Molenaar added, �I believe that Elders clients will receive greater access to commodities services and world class insights thanks to the partnership with FCStone. We think organizations should focus on what they are good at. Elders clients, I believe, will benefit from this partnership while we continue to add value in our areas of expertise.�

About FCStone Group, Inc.

FCStone Group, Inc., along with its affiliates, is an integrated commodity risk management company providing risk management consulting and transaction execution services to commercial commodity intermediaries, end-users and producers. The firm assists primarily middle market customers in optimizing their profit margins and mitigating exposure to commodity price risk. In addition to risk management consulting services, FCStone, LLC, operates one of the leading independent clearing and execution platforms for exchange-traded futures and options contracts. FCStone Group, Inc., serves more than 8,000 customers and in the 12 months ended August 31, 2008, executed 100.0 million derivative contracts in the exchange-traded and over-the-counter markets. The FCStone Group companies work in all the major commodity areas including agriculture, energy, renewable fuels, foods, forestry, cotton and textile, dairy and currency exchange. Headquartered in the Midwest, it has offices located throughout the world and is a clearing member of all major North American futures exchanges. FCStone Group, Inc., trades on the NASDAQ Global Select Market under the symbol "FCSX."

Forward Looking Statements

This press release may include forward-looking statements regarding, among other things, our plans, strategies and prospects, both business and financial. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. The words "believe," "expect," "anticipate," "should," "plan," "will," "may," "could," "intend," "estimate," "predict," "potential," "continue" or the negative of these terms and similar expressions, as they relate to FCStone Group, Inc., are intended to identify forward-looking statements.

We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. They can be affected by inaccurate assumptions, including the risks, uncertainties and assumptions described in the Company's filings with the Securities and Exchange Commission. In light of these risks, uncertainties and assumptions, the forward-looking statements in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. When you consider these forward-looking statements, you should keep in mind these risk factors and other cautionary statements in this press release. Our forward-looking statements speak only as of the date of this press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Fcstone Grp. (MM) (NASDAQ:FCSX)
Historical Stock Chart
From Jan 2025 to Feb 2025 Click Here for more Fcstone Grp. (MM) Charts.
Fcstone Grp. (MM) (NASDAQ:FCSX)
Historical Stock Chart
From Feb 2024 to Feb 2025 Click Here for more Fcstone Grp. (MM) Charts.