HOUSTON, TEXAS, US — After three years of collaboration, grains trader Hansen-Mueller Co. and Nautilus Ventures, a subsidiary of Nautilus International Holding Corp., have formed a 50/50 joint venture that will invest up to $9 million modernizing a grain elevator facility at Port Houston.

The creation of Hansen Metro Elevation (HME) was finalized in April along with the securing of long-term concession with the Port of Houston for the historic grain elevator facility for up to 30 years, which HME will modernize over the next 12 to 18 months to improve cargo handling efficiency.

The JV combines Nautilus’ experience in port operations with Hansen-Mueller’s grain trading and logistics capabilities to provide comprehensive rail, truck and maritime logistics services to the agricultural industry, the companies said in a May 29 announcement. Financial terms were not disclosed.

“We are excited to embark on this journey with Nautilus and establish HME as a premier player in the industry,” said Tyler Kester, president of Hansen-Mueller. “By combining our strengths and expertise, we will deliver unparalleled value to our customers and contribute to economic growth in the region.”

Brian Johnson, chief commercial officer of Nautilus International Holding Corp., said, “By embracing innovation and our combined experience, HME aims to set new benchmarks for performance and customer satisfaction. The formation of HME represents a transformative step forward for both Nautilus and Hansen-Mueller. Together, we are well-positioned to meet the evolving needs of our customers and drive sustainable growth in the years to come.”