{"id":31130,"date":"2015-12-16T07:26:32","date_gmt":"2015-12-16T06:26:32","guid":{"rendered":"https:\/\/renewable-carbon.eu\/news\/?p=31130"},"modified":"2015-12-15T12:06:56","modified_gmt":"2015-12-15T11:06:56","slug":"olenex-to-become-a-full-function-joint-venture","status":"publish","type":"post","link":"https:\/\/renewable-carbon.eu\/news\/olenex-to-become-a-full-function-joint-venture\/","title":{"rendered":"Olenex to Become a Full-Function Joint Venture"},"content":{"rendered":"

December 10, 2015 – Archer Daniels Midland Company (NYSE: ADM) and Wilmar International Limited (SGX: F34) announced today that they have entered into an agreement whereby Olenex, their partnership to market oils and fats in Europe, will become a full-function joint venture with its own assets.<\/strong><\/p>\n

\u201cBy turning Olenex into a full-function joint venture, we will not only meet customer demand for a single, integrated supplier for oils and fats products, but we will also support ADM’s strategic goal of strengthening our European oils business for food products.\u201d<\/p>\n

As part of the agreement, ADM will transfer two sites\u2014a specialty oils and fats facility and a palm refining plant in Hamburg, Germany\u2014to the new joint venture. Wilmar will transfer its tropical oils processing plants in Brake, Germany and Rotterdam, the Netherlands. In addition to processing, the joint venture will also integrate raw materials sourcing, trading, and sales and marketing operations. The agreement also stipulates that refined oils and fats from ADM\u2019s other plants in the Czech Republic, Germany, the Netherlands, Poland and the U.K. will be marketed by Olenex.<\/p>\n

\u201cThis new agreement will allow Olenex to operate more efficiently and competitively, with a stronger brand presence and position in the oils and fats market,\u201d said Duane Holz, president of ADM\u2019s European Oils business. \u201cBy turning Olenex into a full-function joint venture, we will not only meet customer demand for a single, integrated supplier for oils and fats products, but we will also support ADM’s strategic goal of strengthening our European oils business for food products.\u201d<\/p>\n

Olenex started in 2012 as a partnership between ADM and Wilmar to market oils and fats products in Europe. Strengthening Olenex into a full-function joint venture with integrated assets is a strategic step to build upon that partnership, leveraging complementary capabilities to create value for the customer.<\/p>\n

\u201cOlenex is a recognized brand in the European oil and fats market,\u201d said Remond van Dorland, general manager of Wilmar’s European Oil & Fats operations. \u201cThe joint venture will be well-positioned to capitalize on synergies between ADM and Wilmar and capture profitable growth opportunities while delivering best-in-class service to customers.\u201d<\/p>\n

The agreement, which is subject to regulatory approvals, is expected to close in the middle of 2016.<\/p>\n

 <\/p>\n

About ADM<\/h3>\n

For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve the vital needs of a growing world. Today, we\u2019re one of the world\u2019s largest agricultural processors and food ingredient providers, with more than 33,000 employees serving customers in more than 140 countries. With a global value chain that includes more than 460 crop procurement locations, 300 ingredient manufacturing facilities, 40 innovation centers and the world\u2019s premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, industrial and energy uses.<\/p>\n

About Wilmar<\/h3>\n

Wilmar International Limited, founded in 1991 and headquartered in Singapore, is today Asia\u2019s leading agribusiness group. Wilmar is ranked amongst the largest listed companies by market capitalisation on the Singapore Exchange.<\/p>\n

Wilmar\u2019s business activities include oil palm cultivation, oilseed crushing, edible oil refining, sugar milling and refining, specialty fat, oleochemical, biodiesel and fertiliser manufacturing and grain processing. At the core of Wilmar\u2019s 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 500 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 about 92,000 people.<\/p>\n

Wilmar\u2019s portfolio of high quality processed agricultural products is the preferred choice of the food manufacturing industry, as well as the industrial and consumer food 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.<\/p>\n

About Olenex C.V.<\/h3>\n

Established in 2012 as a partnership between Archer Daniels Midland Company and Wilmar International Limited for the sale and marketing of refined vegetable oils and fats, Olenex C.V. offers an extensive range of high-quality products and support services to customers in the European Economic Area (EEA) and Switzerland.<\/p>\n

 <\/p>\n

Contacts<\/h3>\n

Wilmar International Limited
\nInvestor Relations
\nMs. LIM Li Chuen, + (65) 6507 0592
\nlim.lichuen@wilmar.com.sg<\/a><\/p>\n

or<\/p>\n

Corporate Communications
\nMs. Iris CHAN
\n+ (65) 6216 0870
\niris.chan@wilmar.com.sg<\/a><\/p>\n

or<\/p>\n

Olenex C.V
\n+ 41 (0)21 702 8000
\n+ 41 (0)21 702 8888
\nmedia@olenex.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

December 10, 2015 – Archer Daniels Midland Company (NYSE: ADM) and Wilmar International Limited (SGX: F34) announced today that they have entered into an agreement whereby Olenex, their partnership to market oils and fats in Europe, will become a full-function joint venture with its own assets. \u201cBy turning Olenex into a full-function joint venture, we […]<\/p>\n","protected":false},"author":59,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","nova_meta_subtitle":"","footnotes":""},"categories":[5572],"tags":[],"supplier":[196,11512,3824],"class_list":["post-31130","post","type-post","status-publish","format-standard","hentry","category-bio-based","supplier-archer-daniels-midland-company-adm","supplier-olenex","supplier-wilmar-international-limited"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/31130","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=31130"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/31130\/revisions"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=31130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=31130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=31130"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=31130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}