Agro Perspectiva

New Full-Function Olenex JV Provides Comprehensive, Integrated Capabilities in Edible Oils and Fats

14.11.2016 15:00 "Agro Perspectiva" (Kyiv) — Archer Daniels Midland Company (NYSE: ADM) and Wilmar International Limited (SGX: F34) have completed the transition of Olenex from a marketing and sales partnership to a full-function joint venture with its own assets.

As a full-function joint venture, Olenex will leverage the combined capabilities of ADM and Wilmar to serve as a single, integrated solutions provider for customers. It will offer a comprehensive portfolio of oils and fats, from commodities to specialty products, along with unparalleled customer service and innovative solutions to meet customer needs. Customers will also benefit from streamlined sourcing and increased supply efficiency, helping to meet their needs for quality and sustainability.

«We are excited to introduce customers to the new Olenex, and share with them the benefits of an end-to-end supplier of oils and fats,» said Dr. Kai-Uwe Ostheim, general manager, Olenex. «With a great product portfolio and a talented team, the new Olenex is ready from day one to distinguish itself as the partner of choice for our edible oils and fats customers.»

Established in 2012 as a partnership to market refined vegetable oils and fats in Europe, Olenex today owns and operates specialty oils and fats and palm refining plants in Hamburg, Germany, as well as tropical oils processing plants in Brake, Germany and Rotterdam, the Netherlands. In addition to processing, the new joint venture integrates raw materials sourcing, trading, and sales and marketing operations. Olenex will also market refined oils and fats from ADM’s plants in the Czech Republic, Germany, the Netherlands, Poland and the U.K.

Olenex, a full-function joint venture between ADM and Wilmar, offers customers in Europe and beyond a comprehensive portfolio of edible oils and fats, from commodities to specialties, as well as superior technical support. Olenex owns and operates a specialty oils and fats facility and a palm refinery in Hamburg, Germany, as well as tropical oils processing plants in Brake, Germany and Rotterdam, the Netherlands. It also manages raw materials sourcing, trading, sales and marketing operations. Olenex will also market refined oils and fats from ADM’s plants in the Czech Republic, Germany, the Netherlands, Poland and the U.K.

For more than a century, the people of Archer Daniels Midland Company (NYSE: ADM) have transformed crops into products that serve the vital needs of a growing world. Today, we’re one of the world’s largest agricultural processors and food ingredient providers, with more than 32,300 employees serving customers in more than 160 countries. With a global value chain that includes 428 crop procurement locations, 280 ingredient manufacturing facilities, 39 innovation centers and the world’s premier crop transportation network, we connect the harvest to the home, making products for food, animal feed, industrial and energy uses.

Wilmar International Limited, founded in 1991 and headquartered in Singapore, is today Asia’s leading agribusiness group. Wilmar is ranked amongst the largest listed companies by market capitalisation on the Singapore Exchange.

Wilmar’s business activities include oil palm cultivation, oilseed crushing, edible oil refining, sugar milling and refining, specialty fat, oleochemical, biodiesel and fertiliser manufacturing and grain processing. At the core of Wilmar’s strategy is a resilient integrated agribusiness model that encompasses the entire value chain of the agricultural commodity processing business, from origination and processing to branding, merchandising and distribution of a wide range of agricultural products. It has over 500 manufacturing plants and an extensive distribution network covering China, India, Indonesia and some 50 other countries. The Group is backed by a multinational workforce of about 92,000 people.

Wilmar’s portfolio of high quality processed agricultural products is the preferred choice of the food manufacturing industry, as well as the industrial and consumer food businesses. Its consumer-packed products occupy a leading share in its targeted markets. Through scale, integration and the logistical advantages of its business model, Wilmar is able to extract margins at every step of the value chain, thereby reaping operational synergies and cost efficiencies. Wilmar remains a firm advocate of sustainable growth and is committed to its role as a responsible corporate citizen.