Archer Daniels Midland Company (ADM) and Wilmar International have launched Olenex as full-function joint-venture to offer integrated capabilities in refined vegetable oils and fats.
The companies have completed the transition of Olenex from a marketing and sales partnership to a full-function joint venture with its own assets.
Established in 2012, Olenex was launched as a partnership to market refined vegetable oils and fats in Europe.
In September, the companies received all required competition approvals for the joint venture to begin operations.
The joint venture will leverage the combined capabilities of the two companies to serve as a single, integrated solutions provider.
Olenex general manager Kai-Uwe Ostheim said: “With a great product portfolio and a talented team, the new Olenex is ready from day one to distinguish itself as the partner of choice for our edible oils and fats customers.”
The full-function, with a portfolio oils and fats ranging from commodities to specialty products, will also have a streamlined sourcing and increased supply efficiency.
Currently, Olenex owns and operates specialty oils and fats and palm refining plants in Hamburg, Germany, as well as tropical oils processing plants in Brake, Germany and Rotterdam, the Netherlands.
Besides integrating processing capabilities, the new joint venture will combine raw materials sourcing, trading, and sales and marketing operations.
It will also market refined oils and fats from ADM’s plants in the Czech Republic, Germany, the Netherlands, Poland and the UK.
Employing over 32,300 employees, ADM is one of the world’s largest agricultural processors and food ingredient providers, serving customers in more than 160 countries.
Its global value chain includes 428 crop procurement locations, 280 ingredient manufacturing facilities, 39 innovation centers and crop transportation network.
Headquartered in Singapore, Wilmar is one of agribusiness groups in Asia, with over 500 manufacturing plants and an distribution network covering China, India, Indonesia and some 50 other countries.
Its activities include oil palm cultivation, oilseed crushing, edible oil refining, sugar milling and refining, specialty fat, oleochemical, biodiesel and fertiliser manufacturing and grain processing.
