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CARGILL TO ACQUIRE PROCTER & GAMBLE JUICE-PROCESSING FACILITY IN FROSTPROOF

 CARGILL TO ACQUIRE PROCTER & GAMBLE JUICE-PROCESSING
 FACILITY IN FROSTPROOF
 MINNEAPOLIS, Nov. 4 /PRNewswire/ -- Cargill today announced that it has reached an agreement to acquire a fruit-juice processing facility in Frostproof, Fla., from Procter & Gamble (NYSE: PG). Terms of the sale were not disclosed.
 The fruit-juice processing facility has a 12.5-million box annual processing capacity and significant storage capacity. It is located in central Florida near the orange and grapefruit supply, in a region with a lower risk of damaging frost.
 "The acquisition of the Frostproof facility represents Cargill's entry into the juice processing industry in the United States," explained Doug Linder, president of Cargill's Worldwide Juice, Fruit and Vegetable Operations. "Acquiring the Frostproof facility provides Cargill an opportunity to become a global processor and blender of juice to better service the needs of customers in the United States and worldwide."
 "Cargill is an excellent company. They have been an important supplier to Procter & Gamble for years in many areas, including fruit- juice concentrate," said Edwin L. Artzt, Procter & Gamble chairman of the board and chief executive officer. "We're proud of our employees at Frostproof, and we're pleased that this facility will continue operating in the future under the management of a fine company like Cargill."
 Cargill currently operates fruit-juice trading offices in Amsterdam, Minneapolis, Sao Paulo and Tokyo. Its fruit-juice processing operations are located in Argentina, Brazil, Chile and Pakistan.
 Procter & Gamble announced in September that it would sell the Frostproof facility after deciding to exit the 100-percent juice business and focus on the juice drink business.
 The acquisition is expected to be completed in December.
 Cargill has significant business activity in the state of Florida and employs 1,700 people in the state. Cargill operates a fertilizer processing plant in Tampa and a phosphate-mining operation in Fort Meade. Other operations in Tampa include North Star Recycling, a subsidiary that recycles scrap steel; a grain elevator, and merchandising offices. In Jacksonville, Cargill processes poultry and also operates a flour mill. In addition, Cargill operates a number of businesses, including grain merchandising, steel product and feed sales, in cities including Auburndale, Bartow, Coral Gables, Fort Lauderdale and Panama City.
 Cargill is a privately held merchandiser, processor, transporter and warehouser of agricultural and other bulk commodities. The company is a major supplier of food ingredients and products to food service institutions and restaurants, grocery retailers, wholesalers and food manufacturers. It employs more than 63,500 individuals in 58 countries.
 -0- 11/4/92
 /CONTACT: Jean Housh of Cargill, 612-475-6204, or Wendy Jacques of Procter & Gamble, 513-983-2219/
 (PG) CO: Cargill, Incorporated; Procter & Gamble ST: Minnesota, Florida IN: FOD SU: TNM


AL -- MN001 -- 2410 11/04/92 11:00 EST
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Publication:PR Newswire
Date:Nov 4, 1992
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