Unilever Oleochemical Indonesia’s new palm oil processing plant to promote palm oil transparency
Posted on : 04 Aug, 2014
Unilever Oleochemical Indonesia, a sister company of Unilever Indonesia (one of the largest producers of consumer goods in the country), is in the process of completing its eco-friendly palm oil processing plant on the North Sumatran coast of Indonesia. The plant is expected to commence operations by 2015.
Cargill acquires new oleochemicals plant in Turkey, its third outside the US and Russia
Posted on : 09 Jun, 2014
Cargill, the US-based MNC, has recently announced that it has acquired Turkey based Alemdar Kimya - a vegetable oil-based industrial commodities producer.
Cargill is reported to have spent USD 50 million on the Turkish acquisition that covers all shares, name rights, facilities and a land plot adjacent to 95-year old Alemdar Kimya's production site in Gebze, Kocaeli.
The Turkish plant becomes Cargill's third oleochemicals plant outside the US and Russia.
The plant is expected to produce various industrial raw materials for sectors such as textiles, printing, machinery, and others.
Cargill has been making the most of Turkey's growing economy and the country has served as the company's management center for Middle Eastern and North African operations since 2008.
The new investment is expected to make Turkey a regional development and supply base for vegetable oil-based industrial products, helping Cargill to use locally procured raw materials for production. The investment is also said to reduce import of various industrial products and help reduce Turkey's current account deficit by USD 50 million a year.
Singapore’s Wilmar International in preliminary talks to acquire Sime Darby’s oleochemicals division – Emery
Posted on : 23 Apr, 2014
A recent report in The Edge Review's Market Intelligence, revealed that Wilmar International Ltd., one of Asia's leading agribusiness groups, has shown interest in acquiring Malaysia based Sime Darby's oleochemicals division.
In fact the report suggests that the preliminary negotiations have already begun.
Wilmar has indicated that it's keen on acquiring Emery Olechemicals - a leader in natural-based chemicals - where Sime Darby holds 50 per cent stakes.
However, details on pricing and final deal is yet to be finalized.
Moreover, before the acquisition takes place, approval from Thailand based energy group - PTT Global Chemical has to be sought as PTT holds the remaining 50 per cent in Emery.
Meanwhile, bankers claim that Thailand's largest petrochemical maker - PTT Global, has pre-emption rights in the event of any planned divestment by Sime Darby. Plus, the Thai petrochemical honcho has already shown keen interest in taking full control of Emery in the past.
(Note: This story first appeared in The Edge Review's Market Intelligence Report section in February 2014).
Stay tuned on the latest developments in the oleochemicals industry at CMT's 2nd Oleochemicals Outlook conference in Jakarta on 26-27 August 2014. Visit www.cmtevents.com for more information.