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ADM and Wilmar to Partner on Fertilizer, Ocean Freight and Tropical Oil Refining

22.02.2012  |  Business Wire

Memorandum of understanding outlines plans to leverage both
companies′ strengths


Archer Daniels Midland Company (NYSE: ADM) and Wilmar International
Limited (SGX: WIL) today announced the signing of a memorandum of
understanding, indicating their intent to work together in a strategic
partnership in global fertilizer purchasing and distribution, global
ocean freight operations, and tropical oils refining in Europe.


Collaborations between ADM and Wilmar began in the mid-1990s, when they
jointly built a network of soybean processing operations in China.
Today, ADM owns a 16 percent equity stake in Wilmar. The companies have
significant supplier relationships with each other.


The recent memorandum of understanding says that: in the global
fertilizer business, the companies will collaborate on purchasing and
distribution; in ocean freight, they will partner to improve the
utilization and management of their shipping fleets, with each company
initially contributing two ships to the effort; and in tropical oil
refining in Europe, they will work together to optimize refining
capacity utilization. The memorandum of understanding is subject to the
execution of definitive agreements with respect to the strategic
partnership. ADM and Wilmar will look to finalize the definitive
agreements over the next few months.


ADM Chairman and CEO Patricia Woertz said, 'We have an excellent
relationship with Wilmar′s leadership, and we see Wilmar as a key
partner, especially in our strategy to serve growing Asian demand for
agricultural products. Our teams are currently working together on many
projects, and we look forward to finding more opportunities to work with
our friends and partners at Wilmar.?


Mr. Kuok Khoon Hong, Wilmar′s Chairman and CEO, said, 'Our long
association with ADM and the ability of both companies to tap on each
other′s synergies, helped build our successful Asian operations. It is
now the intention to extend that co-operation globally, initially in the
areas outlined in our memorandum of understanding.?

About ADM


For more than a century, the people of Archer Daniels Midland Company
(NYSE: ADM) have transformed crops into products that serve vital needs.
Today, 30,000 ADM employees around the globe convert oilseeds, corn,
wheat and cocoa into products for food, animal feed, industrial and
energy uses. With more than 265 processing plants, 400 crop procurement
facilities, and the world′s premier crop transportation network, ADM
helps connect the harvest to the home in more than 160 countries. For
more information about ADM and its products, visit www.adm.com.

About Wilmar


Wilmar International Limited, founded in 1991 and headquartered in
Singapore, is today Asia′s leading agribusiness group. Wilmar is ranked
amongst the largest listed companies by market capitalisation on the
Singapore Exchange.


Wilmar′s business activities include oil palm cultivation, oilseeds
crushing, edible oils refining, sugar milling and refining, specialty
fats, oleochemicals, biodiesel and fertilisers manufacturing and grains
processing. At the core of Wilmar′s strategy is a resilient integrated
agribusiness model that encompasses the entire value chain of the
agricultural commodity processing business, from origination and
processing to branding, merchandising and distribution of a wide range
of agricultural products. It has over 300 manufacturing plants and an
extensive distribution network covering China, India, Indonesia and some
50 other countries. The Group is backed by a multinational workforce of
more than 90,000 people.


Wilmar′s portfolio of high quality processed agricultural products is
the preferred choice of the food manufacturing industry, as well as the
industrial and consumer food catering businesses. Its consumer-packed
products occupy a leading share in its targeted markets. ?Through scale,
integration and the logistical advantages of its business model, Wilmar
is able to extract margins at every step of the value chain, thereby
reaping operational synergies and cost efficiencies. Wilmar remains a
firm advocate of sustainable growth and is committed to its role as a
responsible corporate citizen.


For further information about Wilmar, please visit the company's web
site at www.wilmar-international.com.


Archer Daniels Midland Company

Media Relations

Jessie
McKinney, 217-424-5413

media@adm.com

OR

Wilmar
International Limited

Media Relations

Iris Chan, +(65) 6216
0870

iris.chan@wilmar.com.sg


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