Bunge to build sunseed plant in Russia
When completed in spring 2006, the facility will supply Bunge’s consumer bottled oil business in Russia, which is primarily supplied by its facility in Ukraine.
31/03/05 Bunge Limited, an integrated, global agribusiness and food company, has announced plans to construct a sunseed crushing and refining plant in Voronezh, Russia for approximately US$70 million. It will be Bunge’s first plant in the country.
When completed in spring 2006, the facility will supply Bunge’s consumer bottled oil business in Russia, which is primarily supplied by its facility in Ukraine. Bunge markets two bottled oil brands in Russia: Ideal™, a premium brand acquired in 2004, and Oleina™, an established and popular brand. With these two brands and its new facility, Bunge believes it is well positioned to increase its bottled oil sales to this important, yet regional and still fragmented, market.
Russia, the CIS states and the rest of Eastern Europe also have strong potential for growth in grain, oilseed, including sunseed, and meat production. The Voronezh plant will help position Bunge to benefit from this growth. It will supply sunseed meal to regional meat producers and become part of a larger network of integrated assets that stretch from farm to retail shelf.
In addition to Voronezh, Bunge is also constructing a multi-seed crushing plant in Iliychevsk, Ukraine through a joint venture. The company currently operates inland elevators in Romania and Ukraine, and grain terminals at ports on the Baltic and Black Seas, and in Turkey.
Bunge Limited is an integrated, global agribusiness and food company operating in the farm-to-consumer food chain. Founded in 1818 and headquartered in White Plains, New York, Bunge has 25,000 employees and locations in 32 countries. Bunge is the world's leading oilseed processing company, the largest producer and supplier of fertilizers to farmers in South America and the world's leading seller of bottled vegetable oils to consumers.
