ADM and Wilmar Receive Approval for Partnerships in Fertilizer, Ocean Freight and Vegetable Oil
ROLLE, Switzerland--(BUSINESS WIRE)-- Archer Daniels Midland Company (NYS: ADM) and Wilmar International Limited (SGX: WIL) today announced that they have completed regulatory approvals for their partnerships in global fertilizer and European vegetable oil. The two companies have also launched their partnership in global ocean freight.
Through the three partnerships, which will be based in Rolle, Switzerland, ADM and Wilmar will:
collaborate on purchasing and distribution in the global fertilizer business;
partner in the sale and marketing of vegetable oils and fats in Europe; and
work together to improve the utilization and management of their oceangoing fleets, with each company initially contributing two ships to the effort.
"Given our long association with ADM in Asia, we are confident of the efficiencies that these new global partnerships will bring to our businesses," said Kuok Khoon Hong, Wilmar's Chairman and CEO.
"These new partnerships will help strengthen our global marketing reach, while delivering a best-in-class service to our customers," said ADM Chairman and CEO Patricia Woertz. "We are confident that synergies with Wilmar will create a distinctive value."
Collaborations between ADM and Wilmar began in the mid-1990s, when they jointly built a network of soybean processing operations in China. Today, ADM owns a 16 percent equity stake in Wilmar. The companies have significant supplier relationships with each other.
For more than a century, the people of Archer Daniels Midland Company (NYS: ADM) have transformed crops into products that serve vital needs. Today, 30,000 ADM employees around the globe convert oilseeds, corn, wheat and cocoa into products for food, animal feed, industrial and energy uses. With more than 270 processing plants, 420 crop procurement facilities, and the world's premier crop transportation network, ADM helps connect the harvest to the home in more than 160 countries. For more information about ADM and its products, visit www.adm.com.
Wilmar International Limited, founded in 1991 and headquartered in Singapore, is today Asia's leading agribusiness group. Wilmar is ranked amongst the largest listed companies by market capitalisation on the Singapore Exchange.
Wilmar's business activities include oil palm cultivation, oilseeds crushing, edible oils refining, sugar milling and refining, specialty fats, oleochemicals, biodiesel and fertilisers manufacturing and grains processing. At the core of Wilmar's strategy is a resilient integrated agribusiness model that encompasses the entire value chain of the agricultural commodity processing business, from origination and processing to branding, merchandising and distribution of a wide range of agricultural products. It has over 400 manufacturing plants and an extensive distribution network covering China, India, Indonesia and some 50 other countries. The Group is backed by a multinational workforce of approximately 90,000 people.
Wilmar's portfolio of high quality processed agricultural products is the preferred choice of the food manufacturing industry, as well as the industrial and consumer food catering businesses. Its consumer-packed products occupy a leading share in its targeted markets. Through scale, integration and the logistical advantages of its business model, Wilmar is able to extract margins at every step of the value chain, thereby reaping operational synergies and cost efficiencies. Wilmar remains a firm advocate of sustainable growth and is committed to its role as a responsible corporate citizen.
For further information about Wilmar, please visit the company's web site at www.wilmar-international.com.
KEYWORDS: United States Europe Asia Pacific North America Illinois Singapore Switzerland
The article ADM and Wilmar Receive Approval for Partnerships in Fertilizer, Ocean Freight and Vegetable Oil originally appeared on Fool.com.
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