News Release

2001.1.16Fuji Oil takes over 100 Percent shares of Vamo-Fuji

Fuji Oil Co., Ltd. and n.v.Vandemoortele of Belgium recently reached an agreement of Fuji Oil's takeover of the 50 percent stake of Vamo-Fuji nv. held by Vandemoortele.

In 1992 Fuji Oil Co., Ltd and Vandemoortele established a 50:50 jointly financed company "Vamo-Fuji'' to produce and sell specialty fats for chocoltes, confectionery, sandwich cream and others to the European and Russian markets.

Vandemoortele has a long history as a leading foods manufacturer in Europe.
In 1998 it sold its oil division to Cargill, Inc and in line of its strategy to dispose of manufacturing business, Fuji Oil received the offer of takeover.

In its global strategy, Fuji Oil considers Vamo-Fuji as an excellent base to the European and Russian markets and taking this opportunity decided to take over the whole share of the company. Fuji Oil will continue to strive for the business expansion and will also meet the increasing demand for specialty fats for chocolates.

・Reference

An Outline of Vamo-Fuji
Company name : Vamo-Fuji n.v. : (The company plans to change its name)
Company representative : Tetsuya Uchiyama, President
Capital : 12.9 million Euro
Location : Kuhlmannlaan 36,B-9042,Gent,Belgium

An outline of n.v.Vandemoortele
It has a long history as Belgium's largest oils & fats manufacturer. Its products include margarine, mayonnaise,frozen dough,soymilk and others for general home use as well as catering and breads for industrial use. Currently,it is selling to 15 countries,with group sales at 1 billion Euro.

Company name : n.v.Vandemoortele
Company representative : Jean Vandemoortele,President
Location : Kennedypark 8 B-8500 Kortrijk,Belgium

5% usage of vegetable fats in chocolate
In 1962, the FAO and WHO established an institution named CODEX committee to regulate the unversal food standards. Japan joined Codex in 1966 and now it has 165 member countries. In its last meeting the usage of vegetable fat in chocolate not exceeding 5 percent was approved. In some countries and in the USA vegetable fats has not been allowed in "chocolate''. However, as more countries come to approve the usage, substantial increase of demand for chocolate fats is anticipated.

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