ROLLE, Switzerland--(BUSINESS WIRE)--Archer Daniels Midland Company (NYSE: 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:
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collaborate on purchasing and distribution in the global fertilizer
business;
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partner in the sale and marketing of vegetable oils and fats in
Europe; and
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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.
About ADM
For more than a century, the people of Archer Daniels Midland Company
(NYSE: 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.
About Wilmar
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.
Archer Daniels Midland Company
Media Relations
Catherine Laverty, +41 21 702 8400
media-eu@adm.com
or
Wilmar International Limited
Media Relations
Lim Li Chuen, +65 6507 0592
lim.lichuen@wilmar.com.sg