Cargill set to strengthen in Eastern Europe

19/05/05 Cargill has received approval from the Romanian competition authorities for the acquisition of the oilseed crushing, refining and bottling company, Olpo.

The acquisition provides Cargill with first class production facilities in Podari and Craiova and a skilled workforce of nearly 700 employees, who will be key to the continued success of the business and instrumental in its future growth. Cargill will now acquire Olpo’s two sunflower oil brands, a premium one, ‘Untdelemn de la Bunica’, and a regional one, ‘Olpo’.

Olpo’s former shareholders Andreas Friedmann and Doru Stănescu will be on the new board of Olpo for the next four years to help ensure a smooth integration of the business into Cargill.

Olpo has been producing edible oils for 50 years. With significant technological advances since 2000, Olpo has created one of the most modern integrated oil plants in Romania. The company is currently finishing construction of a new crushing line, using the latest technology, with an extra 600 tonnes per day capacity of sunflower seeds, soybeans or rapeseed. This will increase the factory’s processing capacity to about 1,200 tonnes per day, making it the one of the largest oil factories in south-east Europe. Olpo Podari is a significant employer in the region.

Cargill is an international provider of food, agricultural and risk management products and services. With 105,000 employees in 59 countries, the company is committed to using its knowledge and experience to collaborate with customers to help them succeed.

Cargill began its activities in Romania in 1996 and now employs over 900 people, all but two being Romanian nationals. During this time, Cargill has built strong relationships with farms and customers in both the local and the export/import market. Cargill is active in the domestic wheat market and trades feed barley, maize, sunflower seeds and soybeans. In April 2004, Cargill completed its acquisition of Comcereal. Cargill now owns Comcereal’s comprehensive network of grain storage facilities in the Romanian grain belt in the Teleorman, Giurgiu, Ialomita and Galati regions.