Bunge Ltd., a global grains merchant based in White Plains, sold off its international sugar trading operations to Wilmar Sugar Pte. Ltd., a Singapore-based sugar trader that was incorporated in 2010. Financial terms of the deal were not disclosed.
News of the sale follows Bunge”™s second quarter earnings report that was released earlier this month. The company posted a net loss of $21 million, compared with a profit of $72 million the previous year.
The company is also in the process of finding a new head of its agribusiness division, the segment of the company that has historically generated the bulk of its revenues. Bunge”™s president of the agribusiness division, Brian Thomsen, said that he plans to retire at the end of this year.
Founded in 1818 in Amsterdam, Bunge operates in more than 40 countries and has roughly 32,000 employees.
