Golden-Cargill alliance ended

Thu, 21 Jun 2001 | Source: DJ

SINGAPORE (Dow Jones): Golden Agri-Resources Ltd. Wednesday said it has called off its alliance with Cargill Asia Pacific Ltd.

"Market-related events in the past six months are the main reasons," Golden Agri-Resources said in a statement.

As a result, a company called Cargill-Mas Holdings Ltd., formed under the alliance, has also been dissolved.

A joint venture between Cargill-Mas Holdings and Seletar Investments Pte Ltd. has also been terminated, according to the statement.

Golden Agri-Resources and Cargill Asia Pacific will continue their activities in the palm oil market segments, the statement said.

Golden Agri-Resources, a unit of Asia Food & Properties Ltd., mainly runs palm oil plantations in Indonesia.

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