ST. LOUIS, April 11, 2011 /PRNewswire/ -- Bunge North America, the North American
operating arm of Bunge Limited (NYSE: BG), announced that it has
created a joint venture with SCF Marine Inc., a subsidiary of
SEACOR Holdings Inc. (NYSE: CKH), to build a river grain terminal
in Fairmont City located in
St. Clair County, Illinois.
The joint venture, Bunge-SCF Grain, LLC, will build a
state-of-the-art facility on the Mississippi River capable of
receiving grains, soybeans, their byproducts and other bulk
commodities and efficiently shipping them either domestically or to
the export market.
"Meeting the growing global demand for commodities requires not
only more infrastructure, but improved infrastructure, and
everything from site selection to facility design is being done to
make sure we can efficiently serve farmers and customers," said
Bailey Ragan, vice president,
Bunge Grain, Fertilizer and
Biofuels. "The terminal will have high-speed unloading and
loading capabilities and is located in one of the most
agriculturally productive areas in the Midwest on a site where we
have great rail, truck and barge access."
The facility will have more than a million bushels of permanent
storage and will be able to handle high volumes of multiple
commodities simultaneously, providing maximum flexibility.
The site is the northernmost river point that provides
year-round, ice-free river access for barges as well as allows for
deepwater barge loading.
"This facility will help us maximize the efficiency of barge and
boat assets," said Tim Power,
president of SCF Marine. "We will be able to receive products
via rail and truck and transload them directly onto barges for
delivery to domestic locations or to the Port of South Louisiana for export."
Alberici Constructors, Inc. is the design-build general
contractor for the project. Construction is expected to take
about a year and will employ about 100 people. Once
operational, the facility will have 12-20 full-time employees.
About Bunge North
America
Bunge North America
(www.bungenorthamerica.com), the North American operating arm of
Bunge Limited (NYSE: BG), is a vertically integrated food and feed
ingredient company, supplying raw and processed agricultural
commodities and specialized food ingredients to a wide range of
customers in the livestock, poultry, food processor, foodservice
and bakery industries. With headquarters in St. Louis, Missouri, Bunge North America and its subsidiaries operate
grain elevators, oilseed processing plants, edible oil refineries
and packaging facilities, and corn dry mills in the U.S.,
Canada and Mexico.
About Bunge Limited
Bunge Limited (www.bunge.com, NYSE: BG) is a leading global
agribusiness and food company with approximately 32,000 employees
in more than 30 countries. 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 and corn to make ingredients
used by food companies; and sells fertilizer in North and
South America. Founded in 1818,
the company is headquartered in White
Plains, New York.
Cautionary Statement Concerning Forward-Looking
Statements
This press release contains both historical and forward-looking
statements. All statements, other than statements of historical
fact are, or may be deemed to be, forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements are not based on
historical facts, but rather reflect our current expectations and
projections about our future results, performance, prospects and
opportunities. We have tried to identify these forward-looking
statements by using words including "may," "will," "should,"
"could," "expect," "anticipate," "believe," "plan," "intend,"
"estimate," "continue" and similar expressions. These
forward-looking statements are subject to a number of risks,
uncertainties and other factors that could cause our actual
results, performance, prospects or opportunities to differ
materially from those expressed in, or implied by, these
forward-looking statements. The following important factors, among
others, could affect our business and financial performance:
industry conditions, including fluctuations in supply, demand and
prices for agricultural commodities and other raw materials and
products used in our business; fluctuations in energy and freight
costs and competitive developments in our industries; the effects
of weather conditions and the outbreak of crop and animal disease
on our business; global and regional agricultural, economic,
financial and commodities market, political, social and health
conditions; the outcome of pending regulatory and legal
proceedings; our ability to complete, integrate and benefit from
acquisitions, dispositions, joint ventures, including the
transaction described in this press release, and strategic
alliances; our ability to achieve the efficiencies, savings and
other benefits anticipated from our cost reduction, margin
improvement and other business optimization initiatives; changes in
government policies, laws and regulations affecting our business,
including agricultural and trade policies, tax regulations and
biofuels legislation; and other factors affecting our business
generally. The forward-looking statements included in this release
are made only as of the date of this release, and except as
otherwise required by federal securities law, we do not have any
obligation to publicly update or revise any forward-looking
statements to reflect subsequent events or circumstances.
SOURCE Bunge North America