GENEVA, Aug. 5, 2016 /PRNewswire/ -- Cargill and
Bunge Limited (NYSE: BG) ("Bunge") today announced their intention
to enter into an agreement under which Cargill will sell to Bunge
two oilseed processing plants and businesses in the Netherlands and France.
In the Netherlands, the
transaction includes the soybean and rapeseed crush and soybean oil
refining facility in the Port of Amsterdam as well as part of the bulk port
terminal assets dedicated to supporting discharge and storage of
raw materials for the crush plant. In France, it includes the soybean and rapeseed
crush facility located in the Port of Brest. The aggregate annual
processing capacity at the two locations is approximately two
million tons.
The assets are highly complementary to Bunge's existing soy
processing operations in Europe,
and will allow Bunge to further expand its global oilseed
processing footprint into key Northern European destinations, grow
its presence in Europe's protein
market, and further optimize global flows and logistics to serve
customers. Industrial operations and business activities will be
integrated within Bunge's Europe,
Middle East and Africa (EMEA) regional operations and global
soy crush platform, and Bunge is looking forward to welcoming the
experienced and skilled employees of the two sites.
Cargill will retain its two other soybean processing facilities
in Western Europe, in the ports of
Barcelona in Spain and Liverpool in the United Kingdom, as these plants are firmly
integrated with a number of Cargill's other businesses serving
local customers in the food and feed sectors in Spain and the UK. Cargill has an extensive
network of plants processing and refining other oilseeds and
tropical oils across Europe and it
continues to focus on serving its customers and growing its longer
term business in this region.
Employees associated with the business (120 in the Netherlands and 51 in France) will transfer to Bunge.
Cargill is now informing and consulting its employee
representative bodies in the
Netherlands and France.
The transaction is subject to customary closing conditions
including competition clearance and employee consultation.
About Cargill
Cargill provides food, agriculture,
financial and industrial products and services to the world.
Together with farmers, customers, governments and communities, we
help people thrive by applying our insights and 150 years of
experience. We have 149,000 employees in 70 countries who are
committed to feeding the world in a responsible way, reducing
environmental impact and improving the communities where we live
and work. For more information, visit Cargill.com and our News
Center.
About Bunge Limited
Bunge Limited (www.bunge.com,
NYSE: BG) is a leading global agribusiness and food company
operating in over 40 countries with approximately 35,000
employees. Bunge buys, sells, stores and transports oilseeds
and grains to serve customers worldwide; processes oilseeds to make
protein meal for animal feed and edible oil products for commercial
customers and consumers; produces sugar and ethanol from sugarcane;
mills wheat, corn and rice to make ingredients used by food
companies; and sells fertilizer in South America. Founded in
1818, the company is headquartered in White Plains, New York.
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SOURCE Bunge Limited