Bunge agrees to sell California rice mill
Bunge Limited (NYSE: BG) announced the sale of its rice mill in Woodland, California, to Farmers' Rice Cooperative.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Bunge Limited (NYSE: BG) announced the sale of its rice mill in Woodland, California, to Farmers' Rice Cooperative. The transaction will be finalized by the end of 2020, pending customary closing conditions. CEO Greg Heckman stated that the mill had limited connections to Bunge's broader value chains, prompting the decision to sell. This move is part of a portfolio review aimed at optimizing operations.
Positive
- The sale allows Bunge to focus on core business operations.
- Transition plans are in place to support employees and customers.
Negative
- Limited connections to broader value chains highlight potential inefficiencies.
Details
News Market Reaction – BG
The recorded move for BG in the trading session of this news was +0.15%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
ST. LOUIS, Nov. 10, 2020 /PRNewswire/ -- Bunge Limited (NYSE: BG) today announced that it has agreed to sell its rice mill in Woodland, California to Farmers' Rice Cooperative. The completion of the sale is subject to customary closing conditions and is expected to be finalized by the end of 2020.
"As part of our portfolio review, we determined that this mill has limited connections to Bunge's broader value chains," said Greg Heckman, Bunge's Chief Executive Officer. "We will work closely with the new owners to make the transition as smooth as possible for employees and customers."
About Bunge Limited
Bunge (www.bunge.com, NYSE: BG) is a world leader in sourcing, processing and supplying oilseed and grain products and ingredients. Founded in 1818, Bunge's expansive network feeds and fuels a growing world, creating sustainable products and opportunities for more than 70,000 farmers and the consumers they serve across the globe. The company is headquartered in St. Louis, Missouri and has almost 25,000 employees worldwide who stand behind more than 350 port terminals, oilseed processing plants, grain facilities, and food and ingredient production and packaging facilities around the world.
Website Information
We routinely post important information for investors on our website, www.bunge.com, in the "Investors" section. We may use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.
View original content:http://www.prnewswire.com/news-releases/bunge-agrees-to-sell-california-rice-mill-301170394.html
SOURCE Bunge Limited
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