Bunge Limited Establishes Wholly-owned Enterprise in China; Bunge International Trading - Shanghai - Will Enable Direct Access to Chinese Agribusiness Markets.Business Editors WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Jan. 25, 2000 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. today announced the establishment of its new wholly-owned enterprise in China, Bunge International Trading (Shanghai). The legal status enables Bunge International Trading (Shanghai) to operate as a Chinese entity while remaining fully under the ownership of its U.S.-based parent company. Unlike foreign-owned firms operating without the classification, which is one step removed from that held by domestic companies, Bunge International Trading (Shanghai) will be able to import and export products to and from China, as well as conduct domestic trading operations. As the world's most populous nation, and a net importer of soybeans and soy-based products, China represents one of the largest potential agribusiness agribusiness Agriculture operated by business; specifically, that part of a modern national economy devoted to the production, processing, and distribution of food and fibre products and byproducts. markets on the globe. Currently, it is a major exporter of corn and canola canola see brassicanapus. meal. &uot;There is tremendous potential for consumption and production in the Asian markets, and China represents a significant part of this,&uot; stated Alberto Weisser, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bunge Limited. &uot;Bunge International Trading's classification as a wholly-owned enterprise is a crucial step in our efforts to realize the potential of this region, expand the global coverage of our company and open new areas to sell the products we originate in Verb 1. originate in - come from stem - grow out of, have roots in, originate in; "The increase in the national debt stems from the last war" North and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. .&uot; The company operates as a subsidiary of Bunge Global Markets, the worldwide trading and marketing arm of Bunge Limited. In addition to Shanghai, Bunge Global Markets, headquartered in White Plains, NY, manages offices in Rome, Rotterdam, Singapore and Miami. Prior to establishing Bunge International Trading (Shanghai), Bunge opened representative offices in the city in late 1998. This followed closely the establishment of an Asian headquarters in Singapore. Bunge has conducted business with China in various capacities since early in the 20th Century. &uot;As well as affording Bunge the opportunity to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. international and domestic trading in China, Bunge International Trading (Shanghai) will offer access to market data that would otherwise be impossible to gather, and which is crucial to the profitable success of a global agribusiness company,&uot; said Leo Leo, in astronomy Leo [Lat.,=the lion], northern constellation lying S of Ursa Major and on the ecliptic (apparent path of the sun through the heavens) between Cancer and Virgo; it is one of the constellations of the zodiac. Tameeris, Regional Manager for Asia, Bunge Global Markets. Bunge Limited is a U.S.-based agribusiness company that operates a focussed, integrated portfolio of businesses across the chain of food production. Through its proximity to key origination areas in North and South America, logistics expertise, and global marketing and trading capabilities, Bunge Limited maximizes the potential of international commodities markets and sells products from fertilizer and processed oilseeds and grains to commercial and branded food items, direct to customers around the world. |
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