Bunge plans expansion at Altona canola processing plant
October 12, 2010 - St. Louis, Missouri - Bunge North America, the North American operating arm of Bunge Limited (NYSE: BG), announced that it plans to more than double the capacity of its canola processing plant in Altona, Man., part of a multiyear expansion program across its four Western Canada processing plants.
"Canada remains a very important region to Bunge's growth strategy because of the increasing global demand for canola oil and meal and the growth potential of canola seed production in Canada." said Soren Schroder, president and CEO of Bunge North America. "We are committed to expanding our presence in Canada and this project will improve efficiencies along a fully integrated chain from farmers, to food and feed manufacturers."
The proposed project would take Altona's capacity from 1,100 metric tons a day to 2,500 metric tons a day. Bunge would also add a new deodorizer to fully process the oil.
"Canola is an attractive crop to the Canadian farmer and both acreage and yields will increase especially around Altona making it a logical first place to expand our Canadian operations," said Rick Watson, Bunge's country manager in Canada. "From Altona, we can serve most of Bunge's oil packaging plants and major food manufacturers as well as efficiently transport meal to key dairy states in the upper Midwest."
In addition to Altona, Bunge has processing plants in Nipawin, Sask.; Hamilton, Ont.; Ft. Saskatchewan, Alb.; and Harrowby, Man.
Provided the plan receives all necessary approvals, the expansion is expected to go on line in time for harvest in 2012.
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.
About Bunge Limited
Bunge Limited (www.bunge.com, NYSE: BG) is a leading global agribusiness and food company with approximately 32,000 employees in more than 30 countries. Bunge buys, sells, stores and transports oilseeds and grains to serve customers worldwide; processes oilseeds to make protein meal for animal feed and edible oil products for commercial customers and consumers; produces sugar and ethanol from sugarcane; mills wheat and corn to make ingredients used by food companies; and sells fertilizer in North and South America. Founded in 1818, the company is headquartered in White Plains, New York.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains both historical and forward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are not based on historical facts, but rather reflect our current expectations and projections about our future results, performance, prospects and opportunities. We have tried to identify these forward-looking statements by using words including “may,” “will,” “should,” “could,” “expect,” “anticipate,” “believe,” “plan,” “intend,” “estimate,” “continue” and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. The following important factors, among others, could affect our business and financial performance: industry conditions, including fluctuations in supply, demand and prices for agricultural commodities and other raw materials and products used in our business; fluctuations in energy and freight costs and competitive developments in our industries; the effects of weather conditions and the outbreak of crop and animal disease on our business; global and regional agricultural, economic, financial and commodities market, political, social and health conditions; the outcome of pending regulatory and legal proceedings; our ability to complete, integrate and benefit from acquisitions, dispositions, joint ventures and strategic alliances, including the closing of the transaction discussed in this press release; our ability to achieve the efficiencies, savings and other benefits anticipated from our cost reduction, margin improvement and other business optimization initiatives; changes in government policies, laws and regulations affecting our business, including agricultural and trade policies, tax regulations and biofuels legislation; and other factors affecting our business generally. The forward-looking statements included in this release are made only as of the date of this release, and except as otherwise required by federal securities law, we do not have any obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.
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