Wilmar International buys oleochemicals company

PGEO Group Sdn. Bhd (PGEO), a Malaysian subsidiary of Singapore-based palm oil producer Wilmar International Ltd., has purchased a 91.38% stake in Malaysian producer Natural Oleochemicals Sdn Bhd (NatOleo) for 450 million ringgit (US$141.05 million). Wilmar expects a steady growth of the oleochemicals industry, as these chemicals are viewed as a sustainable alternative to petrochemical products. NatOleo is one of the world’s largest oleochemicals producers with a significant market share in Europe and Asia and a growing presence in the United States. (July 21, 2010)