Bunge And TRT ETGO To Dissolve Joint Venture In Canada

OAKVILLE, Ontario, June 28, 2013 /CNW/ - Bunge ETGO L.P., the partnership 
between Bunge and Twin Rivers Technologies Enterprises de Transformation de 
Graines Oleagineuses du Quebec Inc. (TRT ETGO) a subsidiary of TRT Holdings 
Inc., which in turn is a subsidiary of Felda Global Ventures Holdings Berhad 
(FGV) via FGV Downstream Sdn Bhd, has decided that it is in the mutual best 
interests of both partners to dissolve Bunge ETGO L.P. 
Under the partnership created in December 2011, Bunge and TRT ETGO continued 
to own and operate their respective facilities in Hamilton, Ontario and 
Becancour, Quebec.  The partnership was responsible for all commercial aspects 
of the business including oilseed procurement, product sales and risk 
management. 
"FGV realized technical and commercial benefits during the tenure of this 
partnership and concluded that the objectives of the partnership were 
achieved," said Tan Sri Dato' Sabri Ahmad president and CEO of FGV. 
"Our goal is to make the transition seamless for producers and food and feed 
customers," said Todd Bastean president and CEO of Bunge North America. "Bunge 
appreciated the relationship with FGV and looks forward to finding 
opportunities to work together again." 
The transition of commercial activities back to their respective companies is 
scheduled to occur by August 31, 2013.  All existing contracts will be 
honoured.  Existing sales and purchases contracts scheduled to be executed 
after August 31 will be assigned to the appropriate parent company.  For new 
contracts for sales and purchases after August 31, a representative will 
direct customers to the appropriate person at Bunge or TRT ETGO. 
Bunge: 314.292.2000, TRT: 855.811.3846 (toll-free), 819.294.1330 
SOURCE: Bunge North America 
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http://www.newswire.ca/en/releases/archive/June2013/28/c4217.html 
CO: Bunge North America
ST: Ontario
NI: VNT  
-0- Jun/28/2013 11:09 GMT
 
 
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