July 11, 2005

Bunge to buy soybean processing plant in China
 

Agriculture and food company Bunge announced on Jul 10 plans to buy a soybean processing plant in China-its first in the country-as part of business expansion plans in China.

Sanwei group will receive an undisclosed amount from Bunge for the latter to have a controlling stake in the plant. The plant is located in Rizhao, Shandong, and has a daily refining capacity of 400 metric tonnes. US-based Bunge also says it will supply the plant with soybeans from North and South America.

With this plant, Bunge will be connected to the soybean meal and oil markets in Shandong, one of China's largest meat producing and vegetable oil-consuming regions.