Cargill Buys Olpo

NEW YORK - May 19/05 - SNS -- Cargill was given approval by Romanian competition authorities to buy the oilseed crushing, refining and bottling company, Olpo.

Under the deal, Cargill will acquire Olpo's two sunflower oil brands, a premium one, 'Untdelemn de la Bunica', and a regional one, 'Olpo'.

Olpo's former shareholders Andreas Friedmann and Doru Stanescu will be on the new board of Olpo for the next four years to help ensure a smooth integration of the business into Cargill.

Olpo has been producing edible oils for 50 years. With significant technological advances since 2000, Olpo has created one of the most modern integrated oil plants in Romania.

The company is currently finishing construction of a new crushing line, using the latest technology, with an extra 600 metric tons (MT) per day capacity of sunflower seeds, soybeans or rapeseed. This will increase the factory's processing capacity to about 1,200 MT per day, making it the one of the largest oil factories in south-east Europe. Olpo Podari is a significant employer in the region.