FDBusiness.com

Archer Daniels Midland Company (ADM) and Wilmar International, Asia’s leading agribusiness group, have completed regulatory approvals for their partnerships in European vegetable oil and global fertilizers. The two companies have also launched their partnership in global ocean freight.

Through the three partnerships, which will be based in Rolle, Switzerland, ADM and Wilmar will partner in the sale and marketing of vegetable oils and fats in Europe, and collaborate on purchasing and distribution in the global fertilizer business. The two partners will also work together to improve the utilization and management of their oceangoing fleets, with each company initially contributing two ships to the effort.

Collaborations between ADM and Wilmar began in the mid-1990s, when they jointly built a network of soybean processing operations in China. Today, ADM owns a 16% equity stake in Wilmar. The companies have significant supplier relationships with each other.

“Given our long association with ADM in Asia, we are confident of the efficiencies that these new global partnerships will bring to our businesses,” sayd Kuok Khoon Hong, Wilmar’s chairman and chief executive.

“These new partnerships will help strengthen our global marketing reach, while delivering a best-in-class service to our customers,” remarks ADM chairman and chief executive Patricia Woertz. “We are confident that synergies with Wilmar will create a distinctive value.”