THIS STORY HAS BEEN FORMATTED FOR EASY PRINTING

Bunge boosts 2008 guidance due to strong demand

Email|Print|Single Page| Text size – +
June 23, 2008

WHITE PLAINS, N.Y.—Bunge Ltd. on Monday boosted its 2008 earnings guidance on better-than-expected performance in its agribusiness and fertilizer segments, as it announced it will buy Corn Products International Inc. in a stock deal worth about $4.4 billion.

The agricultural and food company said it is increasing its 2008 earnings-per-share forecast to $9.35 to $9.65 from a previous range of $7.10 to $7.40 per share.

Analysts polled by Thomson Financial expected earnings of $7.70 per share, on average.

The company is benefiting from "firm" customer demand despite higher commodity prices, Jacqualyn Fouse, chief financial officer, said in a statement. She also said oilseed processing margins are strong and that high international fertilizer prices are helping margins in its fertilizer business.

In a separate statement, the company said it will buy Westchester, Ill.-based Corn Products for about $56 per share.

© Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • Email
  • Email
  • Print
  • Print
  • Single page
  • Single page
  • Reprints
  • Reprints
  • Share
  • Share
  • Comment
  • Comment
 
  • Share on DiggShare on Digg
  • Tag with Del.icio.us Save this article
  • powered by Del.icio.us
Your Name Your e-mail address (for return address purposes) E-mail address of recipients (separate multiple addresses with commas) Name and both e-mail fields are required.
Message (optional)
Disclaimer: Boston.com does not share this information or keep it permanently, as it is for the sole purpose of sending this one time e-mail.