Bunge buys stake in Brazilian ethanol mill

by Eric Schroeder
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SAO PAULO, BRAZIL — Bunge Alimentos announced it has acquired a 60% stake in Monteverde Agroenergetica S/A, a sugar and ethanol refinery located in Ponta Pora. Financial terms of the transaction were not disclosed.

The mill currently is in the final stages of construction and Bunge said it should be up and running by May 2009. The facility will have sugarcane processing capacity of 1.4 million tons per year, a figure Bunge hopes to expand to 4.5 million tons per year over the next four years.

"The new mill is being built with the most advanced sugarcane processing technology available," said Sergio Waldrich, president of Bunge Alimentos. "Additionally, Bunge is ready to market energy, within two years of operation."

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