Bunge North America, the North American operating arm of Bunge Limited (NYSE: BG), announced on Jan. 9 it plans to take steps to improve the productivity of its leading soybean processing footprint in the Eastern United States.
The plan includes building Bunge’s first new processing plant in the U.S. in fifteen years. Locations in Ohio and Indiana are under final consideration for the new facility.
“As we evaluate the long-term demand for soy products, we see the need to improve our asset footprint in the Eastern U.S., a key market,” said Tim Gallagher, executive vice president, Oilseed Value Chain, Bunge North America.
“A state-of-the-art facility in the Eastern Corn Belt that incorporates the latest productivity, safety and sustainability features combined with an increase in overall efficiency of our existing footprint will ensure Bunge can serve growing demand in the Southeastern U.S. feed and export markets.”
Once site selection is complete, Bunge will have to obtain necessary approvals to move forward with the project which would be expected to go online by the end of 2019.