Bunge plans expansion at Ft. Saskatchewan canola processing plant
September 19, 2011 - St. Louis, Missouri - Bunge North America, the North American operating arm of Bunge Limited (NYSE: BG), announced that it plans to increase the capacity at a second of its four canola processing plants in Western Canada, the facility in Ft. Saskatchewan, Alberta. In October 2010, Bunge announced another project that will more than double crushing capacity at the facility in Altona, Manitoba, as part of a multiyear expansion program in Canada.
"Expanding and upgrading our capacity in Canada is a natural way to grow Bunge's North American business as domestic and export demand for both canola oil and meal continues to increase," said Soren Schroder, president and CEO of Bunge North America. "By increasing capacity in Ft. Saskatchewan, we also improve operational efficiency so that we can better serve all our customers in the value chain, from farmers to food and feed manufacturers."
The proposed project would more than double Ft. Saskatchewan's current capacity of 850 metric tons a day.
"Farmers around Ft. Saskatchewan are responding to increased demand for canola by planting more acres. Yields are also improving thanks to technology, making this region a logical place to expand," said Rick Watson, Bunge's country manager in Canada. "While most of the oil and meal that will be produced from the expansion in Altona will remain in North America, the additional product from Ft. Saskatchewan will go to both North American and offshore markets."
In addition to Ft. Saskatchewan and Altona, Bunge has processing plants in Nipawin, Sask.; Hamilton, Ont.; and Harrowby, Man.
Pending all necessary approvals, the expansion is expected to go on line in 2014.
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.
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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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