Cargill ups stake in Indonesian sorbitol supplier
Jan. 28, 2011
by Eric Schroeder
JAKARTA, INDONESIA — Cargill has completed its acquisition of a majority stake in PT Sorini Agro Asia Corporindo Tbk, giving Minneapolis-based Cargill 85.01% ownership of Sorini's ordinary shares. Based in Indonesia, Sorini produces and supplies sorbitol.
“We are excited to be a part of Cargill and by the opportunities accorded to our customers and employees by this transaction,” said K.L. Chopra, president director of Sorini. “The combined capabilities and talents of Cargill and Sorini will enable us to better serve customers in Indonesia, Southeast Asia and other markets.”
Bram Klaeijsen, president and regional director of Cargill Asia Pacific, added, “The rise of major new consumer groups in emerging markets constitutes one of the largest opportunities for Cargill’s food ingredients business. Core ingredients like starches and sweeteners as well as fats and oils play an important role in this regard, and are a focus of our customers who are expanding their presence in emerging markets. The acquisition of Sorini allows us to tap into these opportunities.”
Sorini operates seven manufacturing facilities located in Indonesia’s East Java and Lampung provinces. Sorini’s product range comprises starch and starch derivative products, including liquid and powder sorbitol, maltitol, dextrose monohydrate, maltose, and maltodextrine, all used in the production of consumer goods such as food and beverages, cosmetics and personal care, and pharmaceuticals.