Balmac International forms rubber trading division

NEW YORK (April 4)—Commodities trader Balmac International Inc. has formed a Rubber Division and appointed Niels Jacobsen, former president of Andrew Weir Commodities, as the unit´s vice president. Jacobsen was with Weir until Sept. 1, 1999, when the company liquidated its rubber trading business and sold it to Irving R. Boody Co. Inc. Jacobsen worked for Boody until January of this year. Balmac, a trader of coffee, cocoa, ore and cotton since 1991, is a minority shareholder in Balfour Maclaine International Nederland B.V., an oilseed trading operation which traded rubber in the U.S. until 1987, according to a Balmac release.