Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Nyse  >  Bunge Ltd    BG

Delayed Quote. Delayed  - 07/31 04:01:46 pm
79.85 USD   -1.72%
10:24a Investor takes over grain handler CWB, renames it G3 Canada
07/30DJGRAIN HIGHLIGHT : Top Stories Of The Day
07/30 BUNGE : misses 2Q profit forecasts
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

DuPont Buys Full Ownership Of Solae Venture From Partner Bunge

05/01/2012 | 10:05am US/Eastern

DuPont Co.'s (DD) acquired full ownership of Solae LLC, its soy-based ingredients venture with Bunge Ltd. (>> Bunge Limited), as it looks to expand its position in the food ingredients market.

DuPont previously owned 72% of the venture while Bunge owned the remaining 28%.

Financial terms of the deal weren't disclosed.

The companies formed the venture in early 2003 to produce and distribute specialty food ingredients. At that time, DuPont estimated initial global revenue from Solae to exceed $800 million annually. In exchange for its specialty-food-ingredients businesses in 2003, Bunge was to receive the 28% interest in the venture plus an estimated $260 million, which was funded by joint-venture debt.

DuPont said its long-term segment financial targets are to post a 7% to 9% compound annual growth rate for sales and to expand pretax earnings margins 12% to 14%. With full ownership of Solae, DuPont expects to reach the upper end of its margin targets with planned synergies.

The chemicals giant last month reported its first-quarter profit rose 4% as higher pricing and a jump in sales of agricultural products contributed to a 12% sales increase.

-By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

Stocks mentioned in the article : Bunge Limited
React to this article
Latest news on BUNGE LTD
04:09p BUNGE : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS ..
10:24a Investor takes over grain handler CWB, renames it G3 Canada
07/30DJGRAIN HIGHLIGHTS : Top Stories Of The Day
07/30 BUNGE : Results of Operations and Financial Condition, Financial Statements and ..
07/30 BUNGE : misses 2Q profit forecasts
07/30 BUNGE : Reports Second Quarter 2015 Results
07/16 BUNGE : Schedules Second Quarter 2015 Earnings Release and Conference Call
07/15DJBunge Ltd. to Close Oil-Packaging Plant in Illinois
07/14 BUNGE : Company Shares of Bunge Limited Drops by -4.24%
07/09 EXCLUSIVE - CHINA'S COFCO IN TALKS T : sources
Advertisement
Chart
Duration : Period :
Bunge Ltd Technical Analysis Chart | BG | BMG169621056 | 4-Traders
Income Statement Evolution
More Financials