Archer Daniels Midland (ADM) and Wilmar International Limited have launched Olenex, a joint venture for the sale and marketing of refined vegetable oils and fats in Europe.
Based in Rolle, Switzerland, Olenex will provide standard refined oils and frying oils, margarines, non-dairy fats, confectionery fats, and fats for ice cream, sauces, dressings and feed throughout the European Economic Area and Switzerland, starting in mid-November.
“Olenex customers will benefit from a world-class oil business marketed by a single, expert team, and we are proud to establish this joint venture with ADM,” said Napoleon Pefianco, Wilmar’s managing director, Europe, and a member of the Olenex board of directors.
The company will also provide technical support, market intelligence and logistical support to customers in order to optimise the supply chain and better respond to consumer needs, according to ADM.
“This joint venture allows us to leverage the sales and marketing expertise and the existing production facilities of both ADM and Wilmar to provide exceptional products and services to our customers in EEA and Switzerland,” said Martin Kropp, ADM’s managing director of oils and fats, Europe and a member of the Olenex board of directors.
The two companies have also said they will collaborate on global fertilizer purchasing and distribution, and managing their global ocean fleets, with all three partnerships based in Rolle, Switzerland.
The two companies have collaborated since the mid-1990s, and ADM now owns a 16% equity stake in Wilmar.