Wilmar International announces new sugar acquisitions
Agribusiness group Wilmar International announced yesterday that it has acquired PT Jawamanis Rafinasi (JMR), an Indonesian sugar refinery, and Windsor and Brook Trading, a Singapore sugar trading company.
Wilmar International was the successful bidder on CSR’s sugar and renewable energy business Sucrogen, a sale still awaiting approval by the Foreign Investment Review Board.
JMR operates a sugar refinery in Cilegon, Banten Indonesia and services the industrial sugar market. Wilmar International said the acquisition is an integral part of its future Indonesian sugar business, “providing downstream refining and distribution to complement the company’s announced plans to develop sugar plantations and milling operations in Papua”.
Windsor and Brook is a Singapore sugar trading company, and Wilmar said the acquisition “is in line with the company’s plans to expand into the sugar business”.
The company said both acquisitions are expected to complete in the fourth quarter of this year, and are subject to regulatory approvals.
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