9/23/2016

ROLLE, Switzerland/Singapore, Sept.23, 2016- Archer Daniels Midland Company (NYSE: ADM) and Wilmar International Limited (SGX: F34) announced today that they have received all required competition approvals for their agreement whereby Olenex, their partnership to market oils and fats in Europe, will become a full-function joint venture with its own assets. The companies anticipate formally launching the new venture in the coming weeks.

'We are pleased to have received all appropriate regulatory approvals, and we look forward to a smooth and successful launch of the new Olenex in the coming weeks,' said Duane Holz, president of ADM's European Oils business.
Under the terms of the agreement, ADM will transfer two sites-a specialty oils and fats facility and a palm refining plant in Hamburg, Germany-to the new joint venture. Wilmar will transfer its tropical oils processing plants in Brake, Germany and Rotterdam, the Netherlands. In addition to processing, the joint venture will also integrate raw materials sourcing, trading, and sales and marketing operations. The agreement also stipulates that refined oils and fats from ADM's other plants in the Czech Republic, Germany, the Netherlands, Poland and the U.K. will be marketed by Olenex.

About ADM
For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve the vital needs of a growing world. Today, we're one of the world's largest agricultural processors and food ingredient providers, with more than 32,300 employees serving customers in more than 160 countries. With a global value chain that includes 428 crop procurement locations, 280 ingredient manufacturing facilities, 39 innovation centers and the world's premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, industrial and energy uses. Learn more at 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, oilseed crushing, edible oils refining, sugar milling and refining, manufacturing of consumer products, specialty fats, oleochemicals, biodiesel and fertilisers as well as rice and flour milling. At the core of Wilmar's strategy is an integrated agribusiness model that encompasses the entire value chain of the agricultural commodity processing business, from cultivation, processing, merchandising to manufacturing of a wide range of branded agricultural products. It has over 500 manufacturing plants and an extensive distribution network covering China, India, Indonesia and some 50 other countries. The Group has a multinational workforce of about 92,000 people.

Wilmar's portfolio of high quality processed agricultural products is the preferred choice of consumers and the food manufacturing industry. Its consumer-packed products have a leading share in many Asian and African 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 is a firm advocate of sustainable growth and is committed to its role as a responsible corporate citizen.


Wilmar International Limited



ADM - Archer Daniels Midland Company published this content on 23 September 2016 and is solely responsible for the information contained herein.
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