Shares of Bunge Ltd (NYSE:BG) ended Friday session in green amid volatile trading. The shares closed up +0.36 points or 0.60% at $60.75 with 1.66 million shares getting traded. Post opening the session at $60.06, the shares hit an intraday low of $60.01 and an intraday high of $60.75 and the price vacillated in this range throughout the day. The company has a market cap of $8.27 billion and the numbers of outstanding shares have been calculated to be 139.44 million shares.
On Aug. 30, 2016 Bunge North America (“Bunge”), the North American operating arm of Bunge Limited (BG), announced it has reached a subscription agreement to invest in Grupo Minsa S.A.B. de C.V. (the “Company”), a leading corn flour producer, securing a controlling financial interest in the Company. The transaction is expected to close in early 2017, subject to the authorization of the Comisión Federal de Competencia Económica (Mexican Antitrust Commission), the successful delisting of the Company from the Mexican Stock Exchange, and other customary closing conditions.
As part of the transaction, Bunge will take management control of four mills in Mexico and two mills in the United States. The facilities have a combined annual processing capacity of 700,000 metric tons and produce a broad portfolio of branded corn flours and pre-mixes for tortillas and other goods.
“This investment enhances Bunge’s position in milling, an important contributor to our global Food & Ingredients business,” said Soren Schroder, CEO, Bunge Limited. “The operation is aligned with our core capabilities and increases the share of value added business in our overall portfolio.”
Bunge entered the U.S. corn masa market in early 2014 with the purchase of its first mill in Worthington, Indiana. With this investment, Bunge enters the corn masa market in Mexico.
“This is a natural extension of our successful milling platforms in the U.S. and Mexico that will enable us to expand in a product line that is growing due to demographic and economic trends,” said Todd Bastean, CEO, Bunge North America. “With more facilities, products, and capabilities, we’ll be able to provide a broader offering and enhanced services to our growing customer base, with more logistical and operational flexibility.”
Daniel Maldonado, Managing Director of Bunge in Mexico added, “We’re very excited to add the talent and experience of the Grupo Minsa team to Bunge’s Mexican organization. Together we will enhance our ability to provide high quality, innovative flour solutions to our customers.”
Shares of Unilever N.V. (ADR) (NYSE:UN) ended Friday session in red amid volatile trading. The shares closed down -0.75 points or -1.64% at $44.94 with 1.65 million shares getting traded. Post opening the session at $44.98, the shares hit an intraday low of $44.81 and an intraday high of $45.06 and the price vacillated in this range throughout the day. The company has a market cap of $134.43 billion and the numbers of outstanding shares have been calculated to be 1.28 billion shares.
On August 26, 2016 Unilever US announced it joins 29 companies in signing the White House Equal Pay Pledge. Unilever believes that business plays a critical role in reducing the pay gap. By signing the pledge, Unilever US commits to conducting an annual company-wide gender pay analysis, reviewing hiring and promotion processes and procedures to reduce unconscious bias and structural barriers, and embedding equal pay efforts into broader equity initiatives. The pledge reaffirms the company’s commitment to the advancement of women’s economic inclusion as a business priority and Unilever will continue to conduct comprehensive analyses of rewards and compensation across the organization.
As part of The Unilever Sustainable Living Plan, which is the company’s strategy for sustainable growth, Unilever created a framework for fair compensation across the organization. The “Framework for Fair Compensation” outlines how the various existing elements of the company’s compensation packages deliver fair compensation to employees and is supported by a methodology that monitors employee’s benefits.
“Unilever continues to be vocal about the equality of women in the workplace,” said Mike Clementi, Unilever North America Vice President of Human Resources. “By signing the White House Equal Pay Pledge, we remain committed to reviewing our policies and ensuring Unilever is a leader in providing benefits that empower women at work.”