WHITE PLAINS, N.Y. and MANILA, Philippines, Sept. 30, 2016 /PRNewswire/ -- Bunge Agribusiness Singapore Pte Ltd., a wholly owned subsidiary of Bunge Limited (NYSE: BG) ("Bunge"), and Oleo-Fats, Inc., a wholly owned subsidiary of D&L Industries (PSE: DNL) ("OFI"), have entered into distribution agreements for the foodservice, retail and food processor industries in the Asia-Pacific region.
OFI will become Bunge's exclusive commercial partner to import, market, sell and distribute packaged softseed oils into Philippines. Bunge will become OFI's exclusive commercial partner to export, market, sell and distribute coconut oil under its Farm Origin brand into countries in the Asia-Pacific region.
"We're delighted to have OFI as our distribution partner," said Aaron Buettner, Global Head of Oils, Bunge Limited. "By leveraging OFI's capabilities in Philippines and their relationships with customers including quick service restaurant chains, snack food manufacturers, biscuit and confectionery manufacturers, industrial bakeries, and hotels, restaurants and caterers, Bunge will be able to fully participate in an important and growing destination market. We also look forward to being able to provide coconut oil supplied by OFI as part of our Farm Origin portfolio. This is a premium oil that fits well with our other offerings for retail and foodservice in the Asia-Pacific region."
"Partnering with Bunge, the world's largest oilseed processor, gives us an even broader range of products to serve customers in Philippines and strengthens our position as a supplier of choice to our country's fast-growing foodservice industry," said Vincent Lao, Managing Director, Oleo-Fats, Inc. "We're also seeking to grow by adding coconut oil to Bunge's Farm Origin brand. By leveraging Bunge's logistics and capable commercial and marketing teams, we'll be able to participate in broader regional growth as well."
About Bunge Limited
Bunge Limited (www.bunge.com, NYSE: BG) is a leading global agribusiness and food company operating in over 40 countries with approximately 35,000 employees. Bunge buys, sells, stores and transports oilseeds and grains to serve customers worldwide; processes oilseeds to make protein meal for animal feed and edible oil products for commercial customers and consumers; produces sugar and ethanol from sugarcane; mills wheat, corn and rice to make ingredients used by food companies; and sells fertilizer in South America. Founded in 1818, the company is headquartered in White Plains, New York.
About D&L Industries
D&L Industries is a Filipino company engaged in product customization and specialization for the food, plastics, and aerosol industries. The company's principal business activities include manufacturing of customized food ingredients, specialty raw materials for plastics, and oleochemicals for personal and home care use. Established in 1963, D&L has the largest market share in each of the industries it serves, as well as longstanding customer relationships with the Philippines' leading consumer and chemical companies. It was listed on the Philippine Stock Exchange in December 2012. For more information, please visit www.dnl.com.ph.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains both historical and forward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are not based on historical facts, but rather reflect our current expectations and projections about our future results, performance, prospects and opportunities. We have tried to identify these forward-looking statements by using words including "may," "will," "should," "could," "expect," "anticipate," "believe," "plan," "intend," "estimate," "continue" and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. The following important factors, among others, could affect our business and financial performance: industry conditions, including fluctuations in supply, demand and prices for agricultural commodities and other raw materials and products used in our business; fluctuations in energy and freight costs and competitive developments in our industries; the effects of weather conditions and the outbreak of crop and animal disease on our business; global and regional agricultural, economic, financial and commodities market, political, social and health conditions; the outcome of pending regulatory and legal proceedings; our ability to complete, integrate and benefit from acquisitions, dispositions, joint ventures and strategic alliances; our ability to achieve the efficiencies, savings and other benefits anticipated from our cost reduction, margin improvement and other business optimization initiatives; changes in government policies, laws and regulations affecting our business, including agricultural and trade policies, tax regulations and biofuels legislation; and other factors affecting our business generally. The forward-looking statements included in this release are made only as of the date of this release, and except as otherwise required by federal securities law, we do not have any obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.
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SOURCE Bunge Limited