BREWSTER, Minn., July 30 /PRNewswire-FirstCall/ -- Minnesota Soybean Processors has entered into a service agreement with Bunge North America, Inc. for its soybean processing facility in Brewster, Minn.
Under the agreement which is effective September 1, 2007, Bunge will provide commercial and administrative support to the processing operations.
"While we have strong relationships with our local farmers, we will look to Bunge to expand our markets since the company has extensive experience marketing meal and oil both domestically and for export," said Bruce Hill, president of Minnesota Soybean Processors. "We will also be able to tap into Bunge's operational expertise as needed."
"This service agreement with Minnesota Soybean Processors gives Bunge access to additional meal and oil supplies in an area of the country where we don't currently have a presence," said Greg Bechtel, general manager, Bunge Oilseed Processing. "We look forward to working with the co-op in serving its members, current customers and in reaching new markets."
The facility has approximately 70 employees who will retain their positions.
About Minnesota Soybean Processors
Minnesota Soybean Processors, Inc. (http://www.mnsoy.com/) was founded as a farmer-owned cooperative in 1999 with the goal of building and operating its own soybean processing plant. The co-op has grown to nearly 2400 farmer members from Minnesota, South Dakota and Iowa. In December 2003, Minnesota Soybean Processors achieved its goal with the opening of a crush plant in Brewster, Minn. The facility has expanded to include a vegetable oil refinery and a biodiesel plant.
About Bunge North America
Bunge North America (http://www.bungenorthamerica.com/), the North American operating arm of Bunge Limited , is a vertically integrated food and feed ingredient company, supplying raw and processed agricultural commodities and specialized food ingredients to a wide range of customers in the livestock, poultry, food processor, foodservice and bakery industries. With headquarters in St. Louis, Missouri, Bunge North America and its subsidiaries operate grain elevators, oilseed processing plants, edible oil refineries and packaging facilities, and corn dry mills in the U.S., Canada and Mexico.
