Cargill and Copersucar have completed all required regulatory clearances to form Alvean, their new 50/50 sugar trading joint venture.
Operating as an independent entity, Alvean will begin integrating global activities to originate, commercialize and trade raw and white sugar.
“Alvi, derived from the Latin word albus signifies white/crystal clear and symbolizes our engagement to be ethical and inclusive towards our partners,” says COO Soren Hoed Jensen.
“The suffix ‘an’ brings the notion of movement, expressing the dynamism of the sugar market and our commitment to be the unique link between supply and demand around the world.”
The company’s trading activities will be based in Geneva, Switzerland.
It aims to begin opertaions in October 2014.
The joint venture will also have offices in cities such as Bangkok, Bilbao, Delhi, Dubai, Hong Kong, Jakarta, Miami, Moscow, Sao Paulo and Shanghai.
