Singapore – Food and agriculture company Olam International is divesting its natural rubber (NR) business as part of a six-year restructuring strategy.
Under the 2019-2024 streamlining plan, the group will divest its rubber, sugar, wood-products and fertiliser businesses, Olam said 25 Jan.
The divestment process is expected “to release” funds of around $1.6 billion (€1.4 billion), according to the Singapore -based company.
Olam’s rubber business includes a crumb rubber processing facility in the Ivory Coast, third-party sourcing of NR, and a JV plantation in Gabon.
Ivory Coast affiliate Société…