 Get Quote: GLNCY
Financials: Latest Results
Rank: 14 (Previous rank: 18)
CEO: Ivan Glasenberg Employees: 58,000 Address: Baarermattstrasse 3 Baar, 6341 Country: Switzerland Website: www.glencore.com Glencore International produces and trades a variety of bulk commodities including metals, minerals, oil, coal and cotton. The company faced a tough loss in 2011, losing roughly $330 million trading cotton, which the company attributes to volatility in the commodities market. Glencore dismissed the head of its cotton unit last year, and is now working on a proposed merger with mining group Xstrata. Key Xstrata shareholders should vote on the merger in July 2012. The company sees increased demand for commodities in the U.S., thanks to strength in the automobile and aerospace industries, Glencore said in its 2012 first-quarter production report. Demand in Europe continues to be weak, it said, though demand in China still looks promising. --S.D. Subscribe to Fortune Magazine |
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