ST. LOUIS, MISSOURI - Bunge North America, the North American operating arm of Bunge Limited (NYSE: BG), announced that it purchased Morristown Grain Co., Inc., which includes elevators in Morristown, Ind. and Rushville, Ind.

"These elevators will strengthen Bunge's network of grain and oilseed facilities, allowing us to better serve our customers," said Bailey Ragan, vice president and general manager, Bunge Grain and U.S. Oilseed Processing. "Because the elevators support 90-car unit trains, we hope to be able to co-load corn and soybean meal from Bunge's Morristown soybean processing plant to more efficiently reach our customers in the U.S. poultry markets in the Southeast as well as expand our export program through the Port of Brunswick."

The facilities have storage capacity of more than six million bushels. In addition to corn, the two elevators can handle soybeans and wheat.

Morristown Grain had approximately 20 employees who are transitioning to Bunge.

Financial terms were not disclosed.

SOURCE: Bunge North America