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Italian businessman Benedini to buy Italgrani
World Grain
MILAN, ITALY — Italian businessman Benito Benedini plans to buy the bankrupt Naples-based grain group Italgrani, owned by the Ambrosio family, according to several news reports from Italy.

Benedini will acquire Italgrani through a newly established company, Progetto Grano. He provided capital of €10 million (U.S.$13.54 million) and deposited a €150 million (U.S.$203.2 million) warrant, issued by Italian banking group Banca Intesa, to cover Italgrani's liabilities.

Benedini heads an industrial group involved in the chemical, information technology, professional training and financial services industries. He also serves as president of chemical industry federation Federchimica and the association of industrial companies Assolombarda.

Italgrani was declared bankrupt in October 1999, marking one of Italy's largest financial collapses. In the 1980s, Italgrani was among the country's largest wheat processors and pasta manufacturers, with annual turnover of about €1 billion, the news reports said.

Italgrani U.S.A., Inc. operates U.S. Durum Milling, Inc., a St. Louis, Mo., durum mill with a daily capacity of 16,000 cwts, according to Sosland Publishing's 2005 Grain & Milling
MGR Archive 29.12.2004
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Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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