-
Website will open in10seconds
Food Groups Bunge and Wilmar Announce Joint Venture in Vietnam
06 Jul 2016 --- Food companies Bunge and Wilmar have announced plans to form a joint venture in Vietnam in an attempt to leverage the stance of both companies in Asia. The collaboration will see Bunge sell 45% of its equity in its Vietnam crush operations to Wilmar, creating a three-party joint venture with Bunge and Wilmar as equal 45% shareholders and Quang Dung, a leading soybean meal distributor in Vietnam and majority owner of Green Feed, a growing Vietnamese feed milling business, retain its existing 10% stake in the operations.
The companies’ claim that the transaction will establish a strategic collaboration between three uniquely positioned leaders in the Vietnamese oil and feed markets. By connecting Bunge’s upstream crushing capabilities, Wilmar’s downstream oil refining and consumer products business, and Green Feed’s feed milling and marketing activities, the three companies hope to see an increase in prominence.
Vietnam is home to one of the fastest-growing domestic edible oils markets in Asia, and this joint venture creates integrated opportunities for the sales outlet for oil in Vietnam, as well as enable increased participation in the domestic feed milling industry.
“Bunge is excited to partner with Wilmar, the largest downstream edible oils player in Vietnam,” said Soren Schroder, CEO, Bunge Limited. “The collaboration will create increased operating, marketing and logistics synergies across the Vietnam oils and soybean meal value chains, and help us remain a low-cost operator with the highest efficiency possible.”
“Bunge is a natural partner for us. In Vietnam, it is the largest producer of soybean oil and Wilmar is a major buyer of soybean oil,” said Kuok Khoon Hong, Chairman and CEO of Wilmar. “The soybean meal distribution capabilities of the joint venture also complement Wilmar’s animal feed ingredients business in Vietnam, including rice bran, wheat bran, palm kernel expeller, copra expeller, canola meal and feed oils.”
According to U.S. Department of Agriculture data, Vietnam is projected to import 5.2 million metric tons of meal in 2016/17, up from 2.291 million a decade ago. This is due to an increased consumer demand for meat and production of livestock, which are fed with soybean meal.
To contact our editorial team please email us at editorial@cnsmedia.com 
Related ArticlesFood Ingredients News A turning point in history? World Food Day shines a light on eradicating hunger, boosting nutrition and mitigating climate change
16 Oct 2018 --- As the dust settles after last week’s stark warnings from climate change experts about how future drought, high temperatures and extreme weather events could seriously impact crops and supply chains, attention turns to World Food Day (WFD) which is being marked today with a campaign to eradicate hunger. Once again food security is on the agenda as key players meet in Rome to mark the day and urge a greater awareness and action for those who suffer from hunger and to ensure food security and nutritious diets for all. Food Ingredients News At the forefront of food trends: Blending big business with disruptive start-ups to accelerate growth
16 Oct 2018 --- This week the World Agri-Tech Innovation Summit takes place in London (October 16-17), showcasing the latest innovations and agri-tech intelligence. Hailed as the most international gathering of agribusiness leaders, venture capital investors and agri-tech innovators, the Summit is an international networking and deal-making event for global agribusinesses, solution providers, entrepreneurs and investors. One of the objectives is to accelerate the commercialization of advanced agricultural technologies by generating global partnerships and collaborations. Food Ingredients News Beer shortages? Study reveals climate change could affect global beer supply
15 Oct 2018 --- Severe climate events could cause shortages in the global beer supply, according to new research involving the University of East Anglia (UEA). The study warns that increasingly widespread and severe drought and heat may cause substantial decreases in barley yields worldwide, affecting the supply used to make beer. This will ultimately result in “dramatic” declines in beer consumption and rises in beer prices. Food Ingredients News Greencore sells US operations to Hearthside in US$1bn plus deal
15 Oct 2018 --- Greencore Group plc has agreed to the sale of its entire US business, Greencore US, to an affiliate of Hearthside Food Solutions LLC for US$1,075 million on a cash and debt-free basis. Greencore says that following the deal, it expects to have a leading position in its core UK market, greater financial and strategic flexibility and potential for dynamic capital management. Hearthside believes the transaction marks a significant step in the further growth and development of its network. Food Ingredients News Indian ventures: Alland & Robert and Sayaji collaborate on acacia gum production
12 Oct 2018 --- S.D.P.A., the holding company which owns French leader in natural gums Alland & Robert, is partnering with Indian-based company Sayaji Industries Limited (Sayaji) to form a joint venture. The main goal of this collaboration is to manufacture locally and supply spray dried acacia gum for the growing Indian market. |
.jpg)
