Cargill completes acquisition of majority stake in Sorini

Cargill has completed its acquisition of a majority stake in PT Sorini Agro Asia Corporindo Tbk (Sorini), which was first announced on 15 December 2010.

It now owns 85.01% of Sorini's ordinary shares.

With the completion of this transaction, Sorini becomes a subsidiary of Cargill.

K L Chopra, president director of Sorini, will continue to lead the business.

"The rise of major new consumer groups in emerging markets constitutes one of the largest opportunities for Cargill's food ingredients business," said Bram Klaeijsen, president and regional director, Cargill Asia Pacific.

"Core ingredients like starches and sweeteners as well as fats and oils play an important role in this regard, and are a focus of our customers who are expanding their presence in emerging markets. The acquisition of Sorini allows us to tap into these opportunities."

Based in Indonesia, Sorini is one of the world's leading producers and suppliers of sorbitol.

The company operates seven manufacturing facilities located in Indonesia's East Java and Lampung provinces.

Its product range comprises starch and starch derivative products including liquid and powder sorbitol, maltitol, dextrose monohydrate, maltose, and maltodextrine, all used in the production of consumer goods such as food and beverages, cosmetics and personal care, and pharmaceuticals.