Bunge to Discontinue Soybean Processing in Danville, Ill.

We are faced with a soybean processing market that has more capacity than required and to operate all of our soybean processing assets as efficiently as possible, we made the difficult decision to discontinue soy operations at Danville.

24 Feb 2010 --- Bunge North America, the North American operating arm of Bunge Limited, announced that it is discontinuing soybean processing and related plant operations at its facility in Danville, Ill. effective April 23. The facility will continue to handle soybeans as a grain elevator. In addition, the co-located corn mill will remain open.

"We are faced with a soybean processing market that has more capacity than required and to operate all of our soybean processing assets as efficiently as possible, we made the difficult decision to discontinue soy operations at Danville," said Mark Van Emon, vice president and general manager, Bunge Oilseed Processing. "As a long-time member of the Danville community, we are disappointed that we must end soybean processing but we are pleased that we will continue to operate the corn mill and serve local farmers as an elevator."

Bunge expects approximately 100 employees to be impacted by the discontinuation of soybean processing and related plant operations. The Danville site will continue to employ more than 185 workers.

Bunge will honor all existing producer contracts for corn and soybeans and will continue to contract for soybeans as well as corn for delivery to Danville. All meal and oil contracts will also be honored.