ADM and Wilmar complete Olenex JV transaction

Global agricultural processor and food ingredient provider Archer Daniels Midland Company (ADM) and Singapore-based agribusiness company Wilmar have completed the transition of Olenex from a marketing and sales partnership to a joint venture (JV) with its own assets.

A JV offering edible oils and fats, Olenex will make use of ADM and Wilmar's combined capabilities to serve as a single, integrated solutions provider for customers.

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.”

Established in 2012, Olenex owns and operates speciality oils and fats and palm refining plants in Hamburg, Germany, as well as tropical oils processing plants in Brake, Germany, and Rotterdam, the Netherlands.

The transition will also be beneficial to the customers due to streamlined sourcing and increased supply efficiency, helping to meet their quality and sustainability needs.

The new JV also integrates raw materials sourcing, trading, and sales and marketing operations.

Olenex will also market refined oils and fats from ADM’s plants in the Czech Republic, Germany, the Netherlands, Poland and the UK.