Bunge, DuPont join forces. (Top of the News).DuPont Dupont, DuPont, Du Pont, or du Pont may refer to: Companies
1 City (1990 pop. 71,529), seat of New Castle co., NE Del., on the Delaware River and tributary streams, the Christina and the Brandywine; settled 1638, inc. as a city 1832. , DE, and Bunge Limited Bunge Limited NYSE: BG (formerly Bunge International and prior to that Bunge Y Born) is a multinational food conglomerate. As well as being a leading global soybean exporter it is also involved in food processing, grain trading, and fertilizer. , White Plains, NY, have formed an alliance to significantly grow their agriculture and nutrition businesses with the launch of Solae L.L.C. The alliance will include a joint venture for the global production and distribution of specialty food ingredients, beginning with soy proteins Soy protein is generally regarded as the storage protein held in discrete particles called protein bodies which are estimated to contain at least 60–70% of the total soybean protein. and lecithins; a biotechnology agreement to jointly develop and commercialize soybeans with improved quality traits and an alliance to develop a broader offering of services and products to farmers. This alliance will provide a broad offering of soy ingredient products to better fit customer needs, including textured vegetable proteins Textured or Texturized Vegetable Protein (TVP), also known as Textured Soy Protein (TSP) is a meat substitute made from defatted soy flour, a by-product of making soybean oil. It is quick to cook, high in protein, and low in fat. , soy concentrates and isolates and specialty lecithins. DuPont will contribute its Protein Technologies food ingredients business for a majority interest in the joint venture. In exchange for its specialty food ingredients businesses, Bunge will receive a 28% interest in the joint venture plus an estimated $260 million in cash, to be funded by joint venture debt, and will have the right to increase its ownership to 40% based upon a pre-agreed formula. The joint venture's board will be made up of four members, two each from DuPont and Bunge. |
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