Bunge Ltd. to Close Oil-Packaging Plant in Illinois

Thursday, Jul 16, 2015

Bunge Ltd. plans to close an oil-packaging plant in Illinois, a move that would leave 150 workers without a job.

Bunge, based in White Plains, N.Y., is one of the world’s largest traders and processors of agricultural commodities.

Bunge North America, Bunge’s operating arm in North America, said an additional 60 administrative workers in a second building in Bradley, Ill., will be moved to its headquarters in St. Louis.

The company operates oil-packaging facilities in Decatur, Ala.; Decatur, Ind.; Fort Worth, Texas; Kearny, N.J.; Modesto, Calif.; and Sandston, Va.

In April, Bunge said it was buying a majority stake in the Canadian Wheat Board, Canada’s former wheat-trading monopoly, in a joint venture with a Saudi Arabian investment firm. The deal, Bunge Chief Executive Soren Schroder said, could allow it to funnel greater quantities of Canadian grain to West Coast ports.

Bunge’s shares, down nearly 5% this year, edged down 0.5% to $86.28 in late trading.

Other News