Press release
19th Nov, 2021
olam food ingredients (“ofi”) publishes further information for investors
London
ofi, a global leader in naturally good food & beverage ingredients has today published further information for investors prior to attending J.P. Morgan’s Best of British Seminar on 22 November 2021. ofi was created in early 2020 following the announcement of the re-organisation within Olam International Limited (“Olam”) to unlock and maximize its long-term value. ofi intends to seek a primary listing on the premium segment of the London Stock Exchange, and a concurrent secondary listing in Singapore in H1 2022.
‘Introduction to ofi for investors’ highlights ofi’s attractive portfolio and strong growth prospects, driven by a proven and repeatable growth model which is expected to deliver low to mid-single digit annual volume growth and mid to high-single digit annual EBIT growth in the medium-term. The presentation also reiterates ofi’s strong trading momentum in H1 2021, with year-on-year EBIT growth of 29.5% and continued EBIT margin expansion.
‘Introduction to of
Press release
15th Nov, 2021
Olam secures a US$1,250 million multi-tranche debt facility
Singapore
Leading global food and agri-business Olam International Limited (“Olam’’) has secured a multi-tranche revolving credit facility aggregating US$1,250 million (the “Facility”).
Olam’s wholly-owned subsidiary, Olam Treasury Pte. Ltd. (“OTPL”), is a co-borrower in the Facility. The two-tier Facility consists of a multi-year revolving credit facility (“RCF”) of US$1,025 million and a 3-year term loan facility of US$225 million. The RCF is further split into 3 tranches – a one year tranche of US$205 million, a 2-year tranche of US$410 million and a 3-year tranche of US$410 million.
The Facility saw participation from a large and diverse group of 16 lenders that comprised six Senior Mandated Lead Arrangers – Australia And New Zealand Banking Group Limited, BNP Paribas, DBS Bank Ltd. (DBS), First Abu Dhabi Bank P.J.S.C., Mizuho Bank Limited, National Australia Bank Limited; six Mandated Lead Arrangers – Commonwealth Bank of Australia, Hang Seng Bank Limited, ING Bank N.V., MUF
News
22nd Nov, 2021
Congolaise Industrielle des Bois (CIB) inaugurates 3rd timber processing unit in Republic of Congo
Congolaise Industrielle des Bois (CIB) recently inaugurated its 3rd processing unit in the presence of the Ministry of Forest Economy (MEF), Republic of Congo, Her Excellency Mrs Rosalie Matondo.
CIB continues to remain committed to maximising the value addition at source and supporting the local economy through job creation in the industry and ecological and social programmes. The Enyelle timber processing unit is a giant leap forward with its state-of-the-art manufacturing line, making it one of the most modern processing units in the Republic of Congo and West Africa.
Built on an area of 46,000 m2, the first phase of the processing line will produce around 1,500 M3 of finished products per month. The automated line boasts modern equipment, including a customised opticut machine which guarantees the maximum recovery of defect-free products. The project's second phase is expected to finish by the first quarter of 2022, scaling up the monthly production to 2,500 M3. The processing un
Blog
17th Sep, 2021
Creating strong and thriving communities
At Rusmolco, we care deeply about the communities that lie at the heart of our operations. Without them, we wouldn’t be able to tend to our herd or run our farms. But in the 1990s many Russians moved to the cities for work, leaving some of these rural communities behind. We’ve been working hard to change that. By bringing city level facilities to the villages that surround our milking farms, we’re making these rural communities prosperous places where people want to live and work.
One way we do that is by helping to build critical infrastructure like roads, housing and energy supply networks. For example, in areas close to our farms in Arshinovka, Narovchat and Serdobsk, we have and will continue to partner with local authorities in building new homes for our employees. We have already helped to construct over 50 homes for our staff, who will eventually become owners under the government housing scheme, as well as much-needed libraries, kindergartens and commu
