American agribusiness company Cargill sold some of its sunflower pressing, refining and bottling assets in Romania to French Expur. Expur, a Sofiprotéol subsidiary, bought the edible oil brands Untdelem de la Bunica and Olpo, as well as industrial equipment from its site in Podari, Romania. Following the deal, Cargill will close down the factory in Podari, in Dolj county, stopping its vegetable oil production in Romania, while focusing on the agricultural business. Cargill had taken over the factory in Podari eight years ago from Topway Industries in a deal worth some USD 30 million.
“As a result of this operation, Expur will increase its seed pressing volumes while pursuing the development of the Slobozia site and assuring outlet markets for local agricultural producers,” according to Expur.
“We will continue to grow our local business offering farmers a range of products, services, advice and financial tools. We work in close partnership with the food and feed industry in Romania, providing the highest quality raw materials,” said Martin Schuldt, President of the Board of Cargill Oils.
The deal should be finalized in the first half of 2013, pending approval from anti-trust authorities. Expur has an industrial plant in Slobozia, Romania, where it presses 400,000 tonnes of seed a year and where it employs 500 people.
Cargill has been active in Romania since 1996, is headquartered in Bucharest and now has around 900 employees in 23 locations in the country. The company has activities in grains and oilseeds, bottled and refined oils and animal nutrition.