Last May, Bunge announced that the company’s name in the United States had been changed to Bunge North America, Inc. from Bunge Corp. According to John E. Klein, president and chief executive officer, the change underscores the company’s geographic focus as well as how it contributes to the execution of the Bunge Group’s global strategy.
"This change underlines the fact that we are responsible for developing the Bunge Ltd. presence in four businesses operating in two primary segments throughout the United States, Canada and Mexico," Klein said.
Specifically, Bunge North America is involved in agribusiness through grain origination and soybean processing and refining and in food products through shortening and oil, bakery mixes, frozen bakery products and corn dry milling and wheat milling.
To capture the essence of Bunge North America’s activities in delivering value in food and feed, the company has introduced the tagline "Enhancing the Value of America’s Harvest."
"The company adds value to major crops grown by farmers throughout North America all the way to the consumer in ways that touch the lives of consumers both in North America and around the world," Klein said. "The way we make money is to leverage our expertise in risk management, bulk handling logistics and customized sales, marketing and technical services in collaboration with industry partners in order to add value at every step along this chain."
Examples cited by the company included:
•Soybeans, corn, wheat and sorghum are originated from growers. Bunge makes a market in these crops, provides contracts, storage and access to domestic and export markets.
•Soybeans are processed at one of seven plants. Meal is used domestically or exported for inclusion into animal feed rations. Oil is used as cooking oil and shortening by industrial customers such as bakers or by food service establishments, or for private-label retail sale to consumers.
•Corn is milled and used to produce ready-to-eat breakfast cereal, beer, snack foods and industrial adhesives.
•Wheat flour sourced from either outside the company or through a related flour mill in Mexico is used to manufacture bakery mixes and frozen bakery products for use in in-store/retail bakeries and food service and hospitality around the United States and Mexico.