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

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AMD Cements Expansion Of Partnership With Asia-Based Wilmar

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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

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Financials ($)
Sales 2017 44 459 M
EBIT 2017 1 727 M
Net income 2017 1 236 M
Debt 2017 12 814 M
Yield 2017 2,65%
P/E ratio 2017 13,29
P/E ratio 2018 12,24
EV / Sales 2017 0,66x
EV / Sales 2018 0,62x
Capitalization 16 401 M
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Mean consensus HOLD
Number of Analysts 17
Average target price 2,59 $
Spread / Average Target 0,98%
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Khoon Hong Kuok Chairman & Chief Executive Officer
Seck Guan Pua Chief Operating Officer & Executive Director
Kiam Kong Ho Chief Financial Officer
Matthew John Morgenroth Group Head-Technical
Martua Sitorus Executive Deputy Chairman
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