Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Wilmar International Limited    WLIL   SG1T56930848

News SummaryMost relevantAll newsSector news 

AMD Cements Expansion Of Partnership With Asia-Based Wilmar

share with twitter share with LinkedIn share with facebook
share via e-mail
03/28/2012 | 10:06am CEST

Archer Daniels Midland Co. (ADM) said Wednesday it has signed a series of definitive agreements with Singapore-based Wilmar International Ltd. (WLMIY) to cement the expansion of the companies' partnership.

ADM Chief Operating Officer Juan Luciano said the company signed three separate definitive agreements in March which allow it to move forward with recently agreed ventures, and both companies are now preparing for their implementation.

However, the developments are still subject to merger clearance, according to a slide shown at the investor presentation in Hamburg, Germany.

Last month ADM, which owns a 16% stake in Wilmar, said the companies would extend their partnership to fertilizer, ocean freight and tropical oil refining in Europe. The two companies, which trade and process grains and oilseeds, signed a memorandum of understanding and said they would look to finalize the definitive agreements over the next few months.

ADM's partnership with Wilmar has given it access to the market in China, where the two companies built a network of soybean-crushing plants. ADM, based in Decatur, Ill., said the companies' relationship started in the mid-1990s.

The companies will now collaborate globally on fertilizer purchasing and distribution, and they will work to improve ocean freight fleet management, with both companies contributing two ships to the effort.

In tropical oils, the companies will work together to better use plant capacity in Europe, ADM said.

-By Michael Haddon, Dow Jones Newswires; 4420-7842-9289; michael.haddon@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
React to this article
05/01 PZ CUSSONS : Mamador Partnering Nigerian Heart Foundation
03/30 WILMAR : Olivine Restructures
03/30 WILMAR : and SEARRP to extend Collaboration on Research on Biodiversity Conserva..
03/01DJWilmar Makes Another Big Sugar Purchase; Focus Still on Brazil
03/01DJWilmar Makes Another Big Sugar Purchase; Focus Still on Brazil
02/29DJWILMAR : Seen Buying Central American Sugar Against March Expiry
02/18 WILMAR : Reports 4Q2015 Core Earnings of US$350 million and FY2015 Core Earnings..
02/01 WILMAR : Bien Hoa Sugar, Wilmar International to cooperate in international dist..
01/25 WILMAR : to Form Joint Venture with Singapore Food Industries
01/22 WILMAR : enters into Joint Venture with Singapore Food Industries Pte. Ltd. For ..
News chart
Full-screen chart
Income Statement Evolution
More Financials