Cargill Inc is to sell two oilseed crushing plants in western Europe to Bunge with a combined annual crushing capacity of about 2 million tons, the agricultural commodity traders said on Friday.
The planned sale covers a plant in the port of Amsterdam in the Netherlands, along with some related port terminal assets, and a facility at the French port of Brest, the companies said in a joint statement.
Financial details were not disclosed.
Reuters reported in May that Cargill was in talks to sell the two sites and that Bunge was interested in acquiring them.
“The assets are highly complementary to Bunge’s existing soy processing operations in Europe, and will allow Bunge to further expand its global oilseed processing footprint into key Northern European destinations,” the statement said.
“Cargill will retain its two other soybean processing facilities in Western Europe, in the ports of Barcelona in Spain and Liverpool in the United Kingdom, as these plants are firmly integrated with a number of Cargill’s other businesses.”
Privately held Cargill launched restructuring last year, as global trading houses came under pressure from falling commodity prices and slowing demand in emerging markets.
By Gus Trompiz
The Coca-Cola Co. has promoted Evguenia (Jeny) Stoichkova to president of global ventures, effective Jan. 1, 2023. Ms. Stoichkova joined Coca-Cola Bulgaria in 2004 and was most recently the president of the company’s Eurasia & Middle East division, a role she has held since 2021.
US-based Perfect Day, is partnering with Onego Bio, which specializes in creating animal-free eggs, aiming to accelerate the timeline to bring the eggs to the market. The business, with the use of its technology, plans to commercialize animal-free ovalbumin, the most abundant egg white protein extracted through precision fermentation.
Food waste costs the EU €143 billion per year (US$141.7 billion), with a report by Feedback EU raising the alarm of how it’s vital to reduce waste from farm to fork 50% by 2030 and the only way this will be achieved is by enforcing a mandatory directive forcing the food industry to do better and retailers to pay a tax of food waste.