Palm oil giant Wilmar to expand into Russia

Deals

Palm oil giant Wilmar International has teamed up with two partners to expand into the robust edible oils industry in Russia, the company confirmed on Wednesday.

The firm listed on the Singapore Exchange said it agreed to establish a joint venture with Nizhny Novgorod Fats and Oils Group (NNFO) and Delta Exports. Wilmar, which owns plantations in Malaysia and Indonesia, will hold a 37.5% stake in the venture in Russia, it said. Trading company Delta already has a partnership with Wilmar in Ukraine and will control 12.5%. NNFO will hold the remaining 50%. It is one of the largest producers of edible fats, vegetable oil, soap and other industrial products in Russia. A final shareholders’ agreement is expected to be signed no later than January. (m&c.com)

ADVERTISEMENT

Pandemic has only moderate impact on big companies Analysis

Pandemic has only moderate impact on big companies

Parl't to vote on groundwork for commercial accommodation ra... Parliament

Parl't to vote on groundwork for commercial accommodation ra...

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest re-launches airport shuttle bus City

Budapest re-launches airport shuttle bus

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.