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BUNGE PURCHASES THREE ELEVATORS FROM AGRI INDUSTRIES
Nov. 22, 2010
Source: Bunge news release
Bunge North America, the North American operating arm of Bunge Limited (NYSE: BG), announced that it has purchased three elevators from AGRI Industries, Inc. The elevators, located in Meeker's Landing and McGregor, Iowa, and Fulton, Ill., were operated as part of a joint venture between AGRI Industries and Bunge that was established in 2004.
"We appreciate our relationship with AGRI over the past six years and are proud of the value the joint venture brought to AGRI members and to Bunge," said Bailey Ragan, vice president and general manager, Bunge Grain and U.S. Oilseed Processing. "We are happy to be adding these elevators to Bunge's global network and look forward to continuing to serve area farmers."
The three elevators have combined storage capacity in excess of 2.5 million bushels. All contracts with producers will be honored by Bunge.
Employees at the facilities will not be affected by the sale.
Bunge North America is a vertically integrated food and feed ingredient company, supplying raw and processed agricultural commodities and specialized food ingredients to a wide range of customers in the livestock, poultry, food processor, foodservice and bakery industries. With headquarters in St. Louis, Missouri, Bunge North America and its subsidiaries operate grain elevators, oilseed processing plants, edible oil refineries and packaging facilities, and corn dry mills in the U.S., Canada and Mexico.
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