ST. LOUIS (AP) — Bunge Ltd. will more than double capacity at its canola processing plant in Altona, Manitoba in Canada, the international agribusiness and food company said Tuesday.
The expansion should be complete for the 2012 harvest. The company did not say what it was spending on the project, which is part of an effort to expand four processing plants in Western Canada.
Bunge North America CEO Soren Schroder said Canada is an important region for Bunge as it grows to meet increasing demand for canola oil and meal.
Capacity will go from 1,100 metric tons a day to 2,500 metric tons a day. The company said it would also add a new deodorizer to fully process the oil.
Shares of Bunge fell 47 cents to close at $60.84 on Tuesday.