Bunge to Invest in Biodiesel Plants in Spain

Bunge to Invest in Biodiesel Plants in Spain
PR Newswire UK (press release) - London,UK
... NYSE: BG), today announced the creation of a joint venture with renewable energy leader Acciona and other local partners to build two biodiesel plants in Spain ...

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BARCELONA, Spain, October 2

Bunge Iberica, the Spanish operating arm of Bunge Limited (NYSE: BG), today announced the creation of a joint venture with renewable energy leader Acciona and other local partners to build two biodiesel plants in Spain. The proposed plants will be located adjacent to Bunge's newly constructed oilseed processing plants and vegetable oil refineries in Bilbao and Cartagena. Bunge will be a minority investor.

As part of the joint venture, Bunge will supply the biodiesel plants with soybean oil from its co-located facilities, and Acciona will manage biodiesel production. The biodiesel plant in Bilbao is expected to have a capacity of 200,000 MT/year. Bunge's port-based oilseed processing plant commenced operations in Bilbao in August 2006. The oilseed processing plant and refinery in Cartagena is expected to be fully operational in early 2007.

Repsol YPF, Spain's largest refiner of petroleum, will purchase the end-product from the biodiesel plants. In March 2006, Acciona and Repsol reached an agreement to develop new plants near Repsol's crude oil facilities, including those in Bilbao and Cartagena.

About Bunge Limited

Bunge Limited (www.Bunge.com) is an integrated, global agribusiness and food company operating in the farm-to-consumer food chain. Founded in 1818 and headquartered in White Plains, New York, Bunge has over 22,000 employees and locations in 32 countries. Bunge is the world's leading oilseed processor, the largest producer and supplier of fertilizers to farmers in South America and the world's leading seller of bottled vegetable oils to consumers.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains both historical and forward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are not based on historical facts, but rather reflect our current expectations and projections about our future results, performance, prospects and opportunities. We have tried to identify these forward-looking statements by using words including "may," "will," "expect," "anticipate," "believe," "intend," "estimate," "continue" and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities, as well as those of the markets we serve or intend to serve, to differ materially from those expressed in, or implied by, these forward-looking statements. The following important factors, among others, could affect our business and financial performance: our ability to complete, integrate and benefit from acquisitions, divestitures, joint ventures and strategic alliances; estimated demand for the commodities and other products that we sell and use in our business; industry conditions, including the cyclicality of the agribusiness industry and unpredictability of the weather; agricultural, economic and political conditions in the primary markets where we operate; and other economic, business, competitive and/or regulatory factors affecting our business generally. The forward-looking statements included in this release are made only as of the date of this release, and except as otherwise required by federal securities law, we do not have any obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.

Web site: http://www.bunge.com
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