TOKYO, Sept 2 (Reuters) - The Japanese unit of U.S.-based commodities giant Cargill Inc is studying potential problems related to the millennium computer bug, a company spokesman in Tokyo said on Thursday.
The Financial Times reported on Thursday that Cargill's South African subsidiary would halt entering into or executing trades in maize, oilseeds, wheat or any other commodities from DECEMBER 15 to JANUARY 15 because of worries over the country's preparations for the millenium bug.
``We don't have such a plan at the moment,' the spokesman in Japan said. He added the company was consulting with Japanese customers how to cope with possible external problems such as an electric power shutdown.
U.S. consultancy Gartner Group (NYSE:IT - news) put South Africa in a high risk category for possible interruption.
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From Testimony of Cargill, Incorporated before the United States Senate Special Committee on the Year 2000 Technology Problem:
Cargill is an international marketer, processor and distributor of agricultural and food products. Our headquarters are in Minneapolis, Minnesota, but we employ about 80,000 people in plants and facilities in 65 countries and have business activities in 130 more countries. Cargill processes more than 200 food products and food ingredients such as salt, cocoa, vegetable oils, flour, malt, juices, corn-based sweeteners, starches and citric acid. We are also a leading processor of beef, pork and poultry ...
News reports suggest that many countries have only recently started their Y2K efforts. While we can not predict exactly how other nations' Y2K planning will impact Cargill's food businesses, we expect imports and exports may be affected in some way [...]
cargill.com
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