Jakarta / ID. (cg) Cargill Inc. completed its acquisition of a majority stake in PT Sorini Agro Asia Corporindo TBK. Cargill now owns 85,01 percent of Sorini´s ordinary shares. With the completion of this transaction, Sorini becomes a subsidiary of Cargill. KL Chopra, president director of Sorini, will continue to lead the business. Based in Indonesia, Sorini is one of the world´s leading producers and suppliers of sorbitol. The company operates seven manufacturing facilities located in Indonesia´s East Java and Lampung provinces. Sorini´s product range comprises starch and starch derivative products including liquid and powder sorbitol, maltitol, dextrose monohydrate, maltose, and maltodextrine, all used in the production of consumer goods such as food and beverages, cosmetics and personal care, and pharmaceuticals. As required by Indonesian law, Cargill will make a mandatory tender offer for the remaining shares at 3’500 IDR per share.
About: Cargill Inc. is an international producer and marketer of food, agricultural, financial and industrial products and services. Founded in 1865, the privately held company employs 131’000 people in 66 countries. Cargill helps customers succeed through collaboration and innovation, and is committed to sharing its global knowledge and experience to help meet economic, environmental and social challenges wherever it does business.
About: Cargill Indonesia began doing business in Indonesia in 1974 by establishing a feed mill in Bogor, West Java. Today, Cargill – which is headquartered in Jakarta – has over 9’000 employees and offices, manufacturing plants and facilities throughout the country. Business activities comprise animal nutrition, cocoa, grain and oilseeds, palm oil, sugar, as well as starches and sweeteners through the company´s subsidiary PT Sorini Agro Asia Corporindo TBK. Cargill is a responsible corporate citizen of Indonesia, and its local programs foster responsible and sustainable development, help protect the environment and nourish the people and possibilities that reside in local communities.