Archer Daniels Midland Company (NYSE: ADM) and Wilmar International Limited (SGX: WIL) today announced that they have completed regulatory approvals for their partnerships in global fertilizer and European vegetable oil. The two companies have also launched their partnership in global ocean freight. Through the three partnerships, which will be based in Rolle, Switzerland, ADM and Wilmar will:
- collaborate on purchasing and distribution in the global fertilizer business;
- partner in the sale and marketing of vegetable oils and fats in Europe; and
- work together to improve the utilization and management of their oceangoing fleets, with each company initially contributing two ships to the effort.
Wilmar’s business activities include oil palm cultivation, oilseeds crushing, edible oils refining, sugar milling and refining, specialty fats, oleochemicals, biodiesel and fertilisers manufacturing and grains processing. At the core of Wilmar’s strategy is a resilient integrated agribusiness model that encompasses the entire value chain of the agricultural commodity processing business, from origination and processing to branding, merchandising and distribution of a wide range of agricultural products. It has over 400 manufacturing plants and an extensive distribution network covering China, India, Indonesia and some 50 other countries. The Group is backed by a multinational workforce of approximately 90,000 people.Wilmar’s portfolio of high quality processed agricultural products is the preferred choice of the food manufacturing industry, as well as the industrial and consumer food catering businesses. Its consumer-packed products occupy a leading share in its targeted markets. Through scale, integration and the logistical advantages of its business model, Wilmar is able to extract margins at every step of the value chain, thereby reaping operational synergies and cost efficiencies. Wilmar remains a firm advocate of sustainable growth and is committed to its role as a responsible corporate citizen. For further information about Wilmar, please visit the company's web site at www.wilmar-international.com.