January 30, 2017 / 8:25 AM / a year ago

Dutch grains trader Nidera hires another ex-Toepfer executive

LONDON, Jan 30 (Reuters) - Dutch grains and oilseeds merchant Nidera has hired veteran trader Wolfgang Stiehler, the second executive who previously worked with former German grains trading house Toepfer reported to have joined Nidera recently.

Stiehler has joined in the role of global head of grains and oilseeds trading, a Nidera spokesman said.

Last week Nidera confirmed a Reuters report that former Toepfer executive Ulrich Litterscheid had joined the firm, as financial projects director.

Nidera is headed by Dierk Overheu, another former executive of Toepfer, which was integrated into U.S. agribusiness giant Archer Daniels Midland Co. in 2014 and stopped operating under the Toepfer name.

Rotterdam-based Nidera is a subsidiary of China’s COFCO Group.

COFCO has embarked on an aggressive expansion into international grain trading, having invested over $3 billion to buy Noble Group’s agribusiness and a large stake in Nidera, giving it assets in some of the world’s top grain and vegetable oil producing regions.

The Chinese group has been seeking to integrate Nidera into its international business. (Reporting by Jonathan Saul and Michael Hogan; Editing by Greg Mahlich)

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