Cargill, Associated British in JV

Associated British Foods PLC (ABF) is to form a joint venture arable business in the U.K. with a unit of Cargill Inc.

The venture will be between ABF unit Allied Grain and Cargill's subsidiary Banks Cargill Agriculture.

The joint venture will trade as Frontier and will be 50% owned by each company.

ABF finance director John Bason said, "The creation of Frontier signals the commitment of both partners in this joint venture to provide a comprehensive range of products and services to its farm and food industry customers spanning the whole of the country."