Bunge in grains and oilseeds j.v. in South Africa
April 4, 2011
by Eric Schroeder
WHITE PLAINS, N.Y. — Bunge Europe, the European operating arm of Bunge Ltd., has joined South African-based Senwes Ltd. in a joint venture that will develop grains and oilseeds operations in South Africa. According to the companies, the grains and oilseeds will supply the domestic market as well as be exported to other countries in Africa.
For its part, Bunge will provide its expertise in global commodity markets as well as its specialized international logistics capabilities, while Senwes will contribute its expertise and access to local and regional grain markets, as well as its high-quality infrastructure.
“This joint venture represents a solid platform for Bunge’s growth in Southern Africa,” said Jean-Louis Gourbin, chief executive officer of Bunge Europe. “Bunge has found the right partner to expand its activities in the region and complement its expertise and competitive advantages in logistics, access to global markets and risk management.”
Francois Strydom, managing director of Senwes, added, “Senwes is excited to be able to share in this opportunity, as its growth strategy of product and market risk diversification is being executed, amidst volatile and uncertain global economic times, which will contribute to ensure the sustainability of our business whilst adding value to our customer base and contributing to the development of the African sub region.”