ADM partnerships include European vegetable oil
Oct. 18, 2012
by Jeff Gelski
ROLLE, SWITZERLAND – Archer Daniels Midland Co., Decatur, Ill., and Wilmar International Ltd., Singapore, have completed regulatory approval for their partnerships in European vegetable oil and global fertilizer. The two companies will partner in the sale and marketing of vegetable oils and fats in Europe, and they will collaborate on purchasing and distribution in the global fertilizer business.
ADM and Wilmar International also have launched a partnership in global ocean freight. Each company initially will contribute two ships to the partnership. All three partnerships will be based in Rolle.
“These new partnerships will help strengthen our global marketing reach while delivering a best-in-class service to our customers,” said Patricia Woertz, chairman and chief executive officer of ADM. “We are confident that synergies with Wilmar will create a distinctive value.”
ADM and Wilmar International began collaborating in the 1990s when they jointly built a network of soybean processing operations in China. ADM currently owns a 16% equity stake in Wilmar International.
“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 Hoog, chairman and c.e.o. of Wilmar International.