2023-04-10 05:21:45 ET
- Bunge ( NYSE: BG ) through its Bunge Loders Croklaan JV with IOI Corporation Berhad is acquiring Fuji Oil New Orleans' newly constructed, port-based refinery located in IMTT’s (International-Matex Tank Terminals) Avondale Terminal, Louisiana.
- The acquired facility has multi-oil refining capabilities that will help company expand its existing customer base.
- Through this purchase, Bunge will receive a scalable, complementary port-based footprint that will enable it to connect its North American customers for food, feed, and fuel to international markets.
- Beginning in the second quarter of 2023, Bunge anticipates beginning to serve customers using the newly acquired capacity.
- “This acquisition delivers on our long-term strategy to expand our value-added oils business by accelerating reach across North America. This facility will connect with our existing footprint and enable Bunge to better serve our customers,” commented Aaron Buettner, Bunge’s President, Food Solutions.
- Bunge plans to expand the facility's capacity, creating new job opportunities for the local community.
For further details see:
Bunge to acquire Fuji Oil's state-of-the-art refinery to strengthen its position in the vegetable oils market