Wilmar buys more sugar assets in Indonesia, Singapore

Wilmar International (WLIL.SI), the world's No.1 listed palm oil firm, said on Monday it will buy an Indonesian sugar refinery and a Singapore sugar trading firm to complement the development of plantations in Papua.

The company said in a statement that it has agreed to buy Indonesian sugar refiner PT Jawamanis Rafinasi and Singapore-based sugar trading company Windsor & Brook Trading. It did not provide financial details of the acquisitions.

Wilamr, Singapore's second largest listed company, said Jawamanis has a daily refining capacity of 1,000 tonnes and is licenced for a throughput of up to 1,600 tonnes per day.

Wilmar, which plans to develop a 200,000 hectare sugar plantation in Indonesia's Papua, said the deals are not expected to have material impact on the company's financial position and is expected to be completed by the fourth quarter of 2010.

In July, Wilmar acquired Australia's Sucrogen, the world's No.5 sugar refiner, from Australian conglomerate CSR (CSR.AX) for $1.5 billion, the largest deal so far this year in the global sugar industry.

source: retuers