Wilmar
International Limited has announced that its wholly-owned subsidiary, Wilmar
Kuantan Edible Oils Sdn. Bhd., has entered into an agreement with Cargill Palm
Plantation Sdn. Bhd. for the purchase of Cargill’s edible oil facilities in
Kuantan, Malaysia
The edible oil facilities include a palm oil refinery and a neighbouring
storage facility. The sale will be completed upon approval from all relevant
authorities and certain conditions being fulfilled. The transfer of ownership
is expected to occur by the end of 2018.
Yee Chek Toong, Wilmar’s Country Head of Malaysia said, “The acquisition of the Kuantan edible oil facilities marks our first presence in the east coast of Peninsular Malaysia. The facilities are a good fit with our refining business and will strengthen our sales and distribution network in Malaysia. Besides serving the local market, the facilities’ strategic location in the Kuantan Port is an advantage for regional exports.”
Chai Wei-Joo, managing director of Cargill’s palm oil business in Malaysia said, “While we have made the strategic business decision to sell the Kuantan facilities, Cargill remains committed to our edible oil business in Malaysia and will continue operations at our two other facilities in Port Klang and Westport.”
Visit the Wilmar International website, HERE.
Visit the Cargill website, HERE.
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| Image credit: One Village Initiative on Flickr (CC BY-SA 2.0) |
Yee Chek Toong, Wilmar’s Country Head of Malaysia said, “The acquisition of the Kuantan edible oil facilities marks our first presence in the east coast of Peninsular Malaysia. The facilities are a good fit with our refining business and will strengthen our sales and distribution network in Malaysia. Besides serving the local market, the facilities’ strategic location in the Kuantan Port is an advantage for regional exports.”
Chai Wei-Joo, managing director of Cargill’s palm oil business in Malaysia said, “While we have made the strategic business decision to sell the Kuantan facilities, Cargill remains committed to our edible oil business in Malaysia and will continue operations at our two other facilities in Port Klang and Westport.”
Visit the Wilmar International website, HERE.
Visit the Cargill website, HERE.
The Global Miller
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