Milling & Baking News - March 13, 2018 - 11

Business

The Andersons forms joint venture
to build bio-refinery in Kansas
MAUMEE, OHIO - The Andersons, Inc.
and ICM, Inc. have partnered to form
Element, L.L.C., a joint venture that will
build and operate an ethanol production
facility featuring ICM's equipment and
process technologies. Element is expected
to build a 70-million-gallon-per-year biorefinery located in Colwich, Kas., adjacent to ICM's headquarters.
"This investment executes on several
of our stated strategic priorities, such as
operating highly efficient and profitable
ethanol production facilities, increasing
capacity under management, developing new technologies with higher value
co-products and expanding our fee-based
services offering," said Pat Bowe, chief
executive officer of The Andersons.
The Andersons said the new bio-refinery will be designed to be the most efficient
dry mill ethanol plant in the United States.
The facility will feature several things
that differentiate it from other plants in
the industry, including waste wood heat
and power generation, high protein distillers' dried grains (DDGs), cellulosic
ethanol production using corn kernel

fiber feedstock, and advanced corn oil production, according to The Andersons.
The plant is expected to produce ethanol yields in excess of 3.1 gallons per
bushel at full capacity, according to the
The Andersons. The ethanol produced

by Element will be sold primarily in California under the state's progressive Low
Carbon Fuel Standard as well as in other
emerging low carbon markets, according
to The Andersons.
"Twelve years ago, we worked with
ICM to build the first of our ethanol
plants," said Mike Irmen, president of
The Andersons Ethanol Group. "Since
then, our ethanol business has grown to
become a significant contributor to our
company's success and an important
part of our vision for the future. We are

Bunge Ltd. completes $946 million
IOI Loders Croklaan acquisition
WHITE PLAINS, N.Y. - Bunge Ltd. on
March 1 completed its acquisition of a
70% ownership interest in IOI Loders
Croklaan for approximately $946 million
from IOI Corporation Berhad. IOI Loders
Croklaan manufactures palm- and tropical-oil products and generated sales of
approximately $1.6 billion in fiscal 2016.
According to Bunge, the acquisition of
Loders establishes Bunge as a global leader in business-to-business oil solutions
with expanded value-added capabilities, reach and scale across core geographies. The addition of Loders is expected
to provide Bunge with a comprehensive
customer offering, from core products to
specialties, for B2B customers in the food

processing, industrial and artisanal bakery, confectionery, human nutrition and
food service segments.
Bunge said it expects Loders will generate $105 million of full-year EBITDA in
2018, plus $15 million in synergies. The
company also expects the transaction
to be accretive to earnings on a cash basis this year. Loders will operate within
Bunge's Food & Ingredients business as
"Bunge Loders Croklaan."
"This is a transformational acquisition
that increases our value-added food and
ingredients activities to the 35% to 40%
share of our portfolio we've targeted,"
said Soren Schroder, chief executive officer
of Bunge. "With a comprehensive product

AgMotion renamed Terra Ingredients;
invests in North Dakota mill
MINNEAPOLIS - AgMotion Specialty
Grains, a supplier of organic ingredients
for the consumer packaged goods and
feed markets, has rebranded as Terra Ingredients, L.L.C.
AgMotion said the rebranding to Terra
reflects the company's commitment "to
bakingbusiness.com / world-grain.com

merchandising and sourcing the highest
quality ingredients from nature and allows for independent operation of their
organic and non-G.M.O. operations."
Terra's products include flaxseed,
milled flax, wheat, corn, soybeans, lentils and other pulses, grains and oilseeds.

excited to begin this partnership with
ICM and eagerly anticipate the value it
will bring to our company, our customers
and our shareholders."
Dave VanderGriend, ICM founder and
chief executive officer, added, "This collaboration brings two leading players in
the corn-ethanol industry together. At the
core, we have similar values, similar expectations of excellence, and the same relentless pursuit to improve our businesses, our people and our communities."
Founded in Maumee in 1947, The Andersons is a diversified company rooted
in agriculture, conducting business across
North America in the grain, ethanol, plant
nutrient and rail sectors. The Andersons
Ethanol Group operates ethanol plants in
Albion, Mich.; Clymers, Ind.; Greenville,
Ohio; and Denison, Iowa. The four plants
combined are capable of producing over
475 million gallons of ethanol annually.
Established in 1995 and headquartered
in Colwich, Kas., with a regional office
in Brazil, ICM, Inc. provides proprietary
process technologies to more than 100
facilities globally with a combined production capacity of approximately 8.8 billion gallons of annual ethanol production
and 25 million tons of annual distillers'
grains. MBN
offering derived from seed and tropical
oils, leading innovation and application
capabilities, and world class sustainability
programs, Bunge Loders Croklaan will be
the first choice for global edible oils customers seeking to innovate and grow."
Gordon Hardie, president of the Food
& Ingredients business unit at Bunge,
added, "We're excited to leverage the
combination of Bunge's integrated supply chain and existing oils portfolio with
Loders' high-end specialty and semispecialty products to help our customers
grow their brands and businesses around
the world. We're also excited to begin
working alongside our new colleagues,
whose deep market and technical knowledge will benefit our continuing development of a wide range of edible oils applications aligned with consumer trends
and customers' needs." MBN
The company's customers include food
manufacturers, livestock producers and
crop farmers.
Along with the rebranding, AgMotion
said it has invested in Richardton, N.D.based Stone Mill, a supplier of organic
and non-G.M.O. flax, lentils and other
products. Stone Mill operates a FSMAready processing, packing and distribution. MBN
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Milling & Baking News - March 13, 2018

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