Bunge North America, Inc. Announces Biodiesel Investment in Renewable Energy Group, Inc.
August 14, 2006 - St. Louis, Missouri - Bunge North America, Inc., the North American operating arm of Bunge Limited (NYSE: BG), today announced that it has made a minority investment in and entered into a strategic relationship with Renewable Energy Group, Inc. (REG) for the production of biodiesel. As part of the relationship, Bunge North America will supply raw material, risk management and logistics expertise critical to the growth and expansion of REG.
Renewable Energy Group, Inc., headquartered in Ralston, Iowa, is the biodiesel industry leader of B100 sales and is the only full-service biodiesel company offering plant management, risk management, raw material procurement, plant construction, biodiesel production, and biodiesel sales and marketing services. REG has produced and sold biodiesel for more than ten years through its predecessor companies.
REG Chairman and CEO Jeff Stroburg explained, “Producing high quality biodiesel is only the first step; getting biodiesel to our customers when and where they need it is a key factor in creating a successful distribution channel.”
Facilitating further production and transportation efficiencies, REG intends to co-locate biodiesel production facilities with Bunge North America oilseed processing facilities. Bunge North America President and CEO Carl Hausmann stated, “Bunge’s involvement in REG provides us an opportunity to create a strategic alliance with a market leader in the fast growing biofuels industry. It also provides us with a good balance so that we can effectively serve the food, feed and fuel markets.”
About Bunge North America
Bunge North America (www.bungenorthamerica.com), the North American operating arm of Bunge Limited (NYSE: BG), 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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