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latest news and press releases
Northfield Group to Build Distribution Facilities in Indonesia
15 July 2020
LUGANO and JAKARTA:
Northfield Group signed a Head of Agreement for the development of the Indonesian fuel market. The agreement envisages the development of storage facilities.
Northfield Indonesia will be headed by Salmawati Kaefa, a seasoned executive with passages with Glencore and other major trading companies in South East Asia.
The Indonesian operation with have it offices located in Jakarta and will have representatives in all major industrial, mining and commercial centres in the country, offering Diesel, Petrol and LPG in bulk.
Northfield will also build liquid fuel storage facilities acros the country. The group expect to trade over 600,000 MT of diesel fuel per year, focusing initially in the underserviced areas of the country.
Northfield Group Establishes Foothold in Brazilian Liquid Fuel Market
05 June 2020
LUGANO and CURITIBA:
Northfield Group and Allicorp had sign a Head of Agreement to create a fuel distribution company in Brazil. As part of this agreement, each company will hold 50% of the new company’s share.
The transaction will enable the parties to have a strong presence in the Brazilian fuel market, serving the agricultura and logistic sectors, service stations and fuel distributors across the country.
The new company will build on Allicorp and My Terra’s existent customer network and supporting infrastructure whilst building increasing fuel storage in the port of Paranagua.
The new company will born with the operational and financial strength to cope with the challenges that the Brazilian market is set to experience and will focus on the Central South Brazilian region, with plan to expand operations to another regions in 2021.
My Terra and Nigeria LNG Enter in Long Term LNG Sale and Purchase Agreement
26 April 2020
LUGANO and LAGOS:
My Terra signed today the LNG Sale and Purchase Agreement (SPA) with Nigeria LNG. On the basis of the long term agreement between My Terra and NLNG, My Terra will purchase LNG for a 5-year period starting October 2021 for an approximate annual volume of 1,000,000 tons.
The planned purchase will be an addition to the existing short-term LNG Contract with the sellers, bringing the total purchase quantity to approximately 2.5 million tons per annum. The planned new purchase is expected to contribute significantly to the stable supply of LNG to Asian and South American markets for the period after 2020.
NLNG is one of the largest suppliers of LNG with its natural gas liquefaction plant located in Bonny Island, Nigeria with the maximum production capacity of about 22 million tons annually.
Northfield Group Complete the Acquisition of Technology Company Maple Power
06 April 2020
Northfield Group announced today that the acquisition of majority stake from Maple Power has been completed. Financial terms were not disclosed.
The transaction was signed last December and has now closed as expected, with Northfield teams working hard while adhering to measures taken in response to COVID-19.
Carlos Mundim, Northfield’s CEO, said his group’s financial and operational resources will help Maple Power navigate the current crisis created by the COVID-19 pandemic and emerge well prepared when conditions stabilise.
“Maple Power is an outstanding platform in a highly competitive industry, and we intend to further grow the business organically and through prospective acquisitions,” Mr. Mundim added.
My Terra Accelerates Growth with Opening of New Office in Kuala Lumpur
03 March 2020
My Terra is one of the world’s fastest-growing trading company, has expanded its trading operations in South East Asia with the opening of new offices in Kuala Lumpur. The company expects to add up to 50 additional employees before the end of the year.
In addition to the trade desks in Singapore, the new office will support the company’s growth strategy in Asia, trading liquid fuels, crude oil and metals.
Malaysia is a rich country with diverse population and talent pool from well-known universities. The opening of My Terra’s Malaysian office will allow our group to expand into new markets and grow our revenue in face of challenging time post COVID-19.