BLOG

Bunge to acquire Louisiana state-of-the-art refinery from Fuji Oil

19 April 20232 min reading

Bunge, a global leader in agribusiness, food and ingredients, has entered into a definitive asset purchase agreement with Fuji Oil New Orleans, LLC to acquire its newly constructed, port-based refinery located in IMTT’s (International-Matex Tank Terminals) Avondale Terminal, Louisiana.

The state-of-the-art facility has multi-oil refining capabilities and will enable Bunge to expand its existing customer base. The completion of the transaction is subject to customary closing conditions. This transaction will provide Bunge with a scalable, complementary port-based footprint capable of connecting North American food, feed and fuel customers to global markets. Bunge expects to serve customers with the newly acquired capacity starting in the second quarter 2023.

“This acquisition delivers on our long-term strategy to expand our value-added oils business by accelerating reach across North America. This facility will connect with our existing footprint and enable Bunge to better serve our customers,” commented Aaron Buettner, Bunge’s President, Food Solutions.

Bunge plans to significantly expand the facility’s current capacity, creating new job opportunities for the local community. "We are excited for the opportunity to continue to expand and grow, working alongside great local partners such as IMTT, who Bunge has had an 80-year partnership with storing and shipping vegetable oils in the Gulf,” said Brett Caplice, Bunge’s VP of Refined and Specialty Oils in North America.


Articles in News Category
06 November 20204 min reading

FAO Food Price Index continues its upward trend in October

The FAO Food Price Index (FFPI) averaged 100.9 points in October 2020, up 3.0 points (3.1 percent...

11 July 20172 min reading

Arbel increases capacity with an investment of 11 million TL

Arbel Group, which has established the first integrated lentil, bulgur and pasta facility in Mers...

09 March 20203 min reading

Pakistani senate adopts resolution against flour crisis

Opposition in the upper house of Pakistani parliament staged a walkout after the federal governme...