Bunge To Buy Newly Constructed Refinery From Fuji Oil To Boost Its Vegetable Oils Business

(RTTNews) - Bunge Limited (BG), an agribusiness firm, through its Bunge Loders Croklaan JV with IOI Corporation Berhad, has inked a deal with Fuji Oil New Orleans, LLC, to buy its newly constructed, port-based refinery located in International-Matex Tank Terminals' or IMTT's Avondale Terminal, Louisiana.

Financial terms of the transaction are not known.

Aaron Buettner, Bunge's President, Food Solutions, said: "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…"

Bunge projects to serve customers with the newly acquired capacity starting in the second quarter.