Singpore: Archer Daniels Midland and the Kuok-controlled Wilmar International yesterday announced that they have completed regulatory approvals for their partnerships in global fertilizer and European vegetable oil. 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 collaborate on purchasing and distribution in the global fertilizer business; partner in the sale and marketing of vegetable oils and fats in Europe; and together to improve the utilization and management of their oceangoing fleets, with each company initially contributing two ships to the effort.
“Given our long association with ADM in Asia, we are confident of the efficiencies that these new global partnerships will bring to our businesses,” said Kuok Khoon Hong, Wilmar’s chairman and ceo. [19/10/12]