Monday, April 14, 2014

Wilmar's expansion into Myanmar

National agribusiness company owned by businessman Martua Sitorus , Wilmar International Ltd. , began to explore the sugar market in Southeast Asia .

Through its subsidiary , Wilmar Sugar Pte . Ltd. . , Forming a joint venture with Wilmar sugar companies from Myanmar , Great Wall Food Stuff Industry Company Limited .

In the cooperation agreement , the Singapore-based company will become the majority shareholder of 55% . The remaining 45% will be owned by the Great Wall .

The new company was formed under the name of Great Wall - Wilmar Holdings Limited . As planned , the Great Wall - Wilmar will acquire and manage the entire sugar business assets that have been previously owned by Great Wall .
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Great Wall Assets include two factories with a capacity of 4,000 metric tons ( mt ) of cane per day and 65,000 mt of sugar per year , a bio- ethanol plant and the processing of organic compounds .

" The process of acquisition (business acquisition agreement / BAA ) assets will be carried out in several stages according to the applicable regulations of Myanmar , " said Wilmar Management in Singapore in an official statement on Monday ( 14/4 ) .

Management Wilmar said the establishment of the new company has not had a material impact on the company's performance can be consolidated . The Wilmar investment in Great Wall - Wilmar will be funded entirely through internal cash .


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