Cargill Sells Edible Oil Facility to Wilmar
Wilmar Kuantan Edible Oils Sdn., a wholly owned subsidiary of Wilmar International, has agreed to acquire an edible oil facility, including a palm oil refinery and storage facility in Kuantan, Malaysia from Cargill Palm Plantation Sdn. Bhd. (Cargill).
The deal marks the first expansion into the east coast of the country for Wilmar, and is being seen by the company as a way to strengthen its domestic sales and distribution network, as well as its export business due to the facility being strategically located in the Kuantan Port.
Cargill said that although the decision has been made to divest the Kuantan assets, it will continue to be committed to its edible oil business and continue operations at its two remaining facilities in Port Klang and Westport
The deal is expected to close by the end of next year.