From AP - News Headlines -

Bunge to Close its Danville Soy Processing Operation in April

A section of Bunge North America's massive downtown Danville facility will close in two months.

About 100 employees will face layoffs when the plant's soybean processing operation comes to an end. Bunge spokeswoman Deb Seidell says the Danville site doesn't have the soy-oil refining facility that newer plants have.

"When you crush the soybeans and you get the protein meal and you get the oil, generally that oil needs to be further processed before it can go into the food stream," Seidell said. "From Danville it has to be trucked or sent by rail somewhere else to be refined because there's not a refinery attached to Danville."

But Seidell says there are no plans to build that refinery because the capacity for processing soybeans is outstripping demand. She says management and staff employees will receive outplacement assistance and severance while Bunge will negotiate with unions over the impact on other employees.

Bunge plans to keep its soy and corn elevators and dry corn mill open - they employ about 185 workers.

Categories: Business, Economics, Politics