Under the terms of the agreement Cargill will buy Olpo, gaining plants in Podari and Craiova. The two plants together employ 700 staff. Cargill will also acquire Olpo's twosunflower oil brands, Untdelemn de la Bunica' and Olpo.
Olpo's customers will benefit from Cargill's network of silos, the company said in a statement. Olpo is currently finishing the construction of a new crushing line, which willdouble daily processing production to about 1,200 tonnes of sunflower seeds, soybeans or rapeseed.
Cargill first entered Romania in 1996 and now employs about 900 staff there. Cargill is active in the domestic wheat market and trades feed barley, maize, sunflower seeds andsoybeans.
In April 2004, Cargill completed its acquisition of Comcereal, which has a network of grain storage facilities in the Teleorman, Giurgiu, Ialomita and Galati regions.
Earlier this week Cargill announced the acquisition of the global pectin business of Citrico, a manufacturer of citrus products for the food, beverage and pharmaceuticalindustries. The acquisition includes Citrico's pectin production and sales operations in Malchin, Germany.