The man who turned China’s state-owned grain trader Cofco into an integrated agribusiness and led its overseas acquisition spree has been appointed chairman of Sinochem, the Chinese government announced yesterday.
Ning Gaoning, who uses the name Frank and enjoys speaking English, oversaw the acquisition of Dutch trading company Nidera and most recently the agricultural arm of struggling Hong Kong-based energy and commodities trader Noble Group.
The deals, which gave Cofco a footprint in Southeast Asia and Latin America, were designed to put the company on a par with those that dominate the world grain trade. These include Cargill, Archer Daniels Midland, Bunge and Louis Dreyfus Commodities.
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