A subsidiary of Wilmar International Limited is snapping up a Malaysia-based edible oils facility from agri-giant Cargill in a bid to bolster its presence in the southeast Asian country.
Wilmar Kuantan Edible Oils Sdn. Bhd, has entered into an agreement with Cargill Palm Plantation Sdn. Bhd. for the purchase of Cargill’s edible oil facilities in Kuantan, which includes a palm oil refinery and a neighboring storage facility.
The facilities are strategically located at Kuantan Port, a multipurpose port in the east coast region of Peninsular Malaysia which will boost exports in the area.
The sale will be completed upon approval from all relevant authorities and certain conditions being fulfilled. The transfer of ownership is expected to occur by the end of 2018. The acquisition price has not been disclosed at this stage.
“The acquisition of the Kuantan edible oil facilities marks our first presence on the east coast of Peninsular Malaysia. The facilities are a good fit with our refining business and will strengthen our sales and distribution network in Malaysia,” said Yee Chek Toong, Wilmar’s Country Head of Malaysia.
“Besides serving the local market, the facilities’ strategic location in the Kuantan Port is an advantage for regional exports.”
Chai Wei-Joo, managing director of Cargill’s palm oil business in Malaysia, adds: “While we have made the strategic business decision to sell the Kuantan facilities, Cargill remains committed to our edible oil business in Malaysia and will continue operations at our two other facilities in Port Klang and Westport.”
Source: Food Ingredients First
Danone has appointed three deputy CEOs to “better connect categories and regions” and drive the delivery of its ‘Renew Danone’ strategy. The new appointees are Veronique Penchienati-Bosetta, Shane Grant and Juergen Esser. They will report to Danone CEO Antoine de Saint-Affrique.
PepsiCo Portugal has announced that it will invest €7.5 million to construct a new biodigester, which will turn organic waste into biogas. As well as helping its Carregado facility to achieve a 30% reduction in carbon emissions, the biodigester will also contribute to reducing gas consumption, allowing the installation to use the biogas produced during the anaerobic digestion process.
Kerry is sponsoring The Kerry Upcycled Food Foundation Fellowship in a new partnership with the Upcycled Food Foundation (UFF), the non-profit subsidiary of the Upcycled Food Association (UFA). The research fellowship is the second initiated by the UFF and will work toward advancing the understanding of the market, consumer perception and technical opportunities of upcycled food.
