Oleon, United Plantations to build €26m emulsifier plant in Malaysia
29 August 2012 19:53 [Source: ICIS news]
LONDON (ICIS)--Oleon has formed a joint venture with ?xml:namespace>Malaysia’s United Plantations to build a €26m ($33m) food emulsifier plant in Malaysia, the Belgium-based oleochemicals firm said on Wednesday.
The plant on the island of Pulau Indah, off the west coast of Malaysia’s Selangor state, is expected to start producing food oleo-derivatives in early 2014.
A second phase is expected to be completed by the end of 2015, Oleon said. It did not disclose capacities.
“Through this investment Oleon will strengthen its position in the food industry in Asia and this partnership will also allow us to reinforce our ability to respond to the growing demand of our clients for certified and traceable products,” said Oleon CEO Chris Depreeuw.
Carl Bek-Nielsen, executive director of United Plantations, said that the plant would allow United to access downstream oleochemicals production and new markets.
($1 = €0.80)By: Stefan Baumgarten+1 713 525 2653
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