Bunge Ltd. (BG)

BUSINESS SUMMARY

Bunge Limited, through its subsidiaries, operates as an agribusiness and food retail company worldwide. The company operates in three divisions: Agribusiness, Fertilizer, and Food Products. Agribusiness division purchases, stores, transports, processes, and sells agricultural commodities, such as grains and oilseeds, including soybeans, sunflower seed, rapeseed or canola, wheat, and corn; and commodity products, including meal, hulls, and crude and further processed oils. It sells these products to oilseed processors, feed manufacturers, wheat and corn millers, and edible oil processing companies, as well as to livestock, poultry, and aquaculture producers. Fertilizer division produces and supplies fertilizers to farmers in South America. This division participates in mining and processing of phosphate ore and production of phosphate-based products. Its primary products include phosphate rock, sulfuric acid, single super phosphate, phosphoric acid, and dicalcium phosphate used for various crops, including soybeans, corn, sugar cane, wheat, and coffee. This division also involves in retail operations consisting of production, distribution, and sale of mixed NPK formulas, mixed nutrients, and other fertilizer products directly to retailers, processing and trading companies, and farmers. Food Products division offers edible oil products, including bottled, packaged, and bulk oils, as well as shortenings, margarine, mayonnaise, and other products derived from the vegetable oil refining process; and milling products, such as wheat flours and corn products comprising dry milled corn grits, meal and flours, and soy-fortified corn meal and corn-soy blend. It also produces corn oil and corn feed products. This division sells its products to food processors, foodservice companies, and retail outlets, as well as to government agencies. Bunge Limited was founded by Johann Peter Gottlieb Bunge in 1818 and is headquartered in White Plains, New York.

Potash Corp. of Saskatchewan, Inc. (POT)

PotashCorp is an integrated producer of fertilizer, industrial and animal feed products. We are the world’s largest fertilizer enterprise by capacity, producing the three primary plant nutrients – potash, nitrogen and phosphate. Among these, potash – the namesake of our company – delivers the highest quality earnings in the fertilizer universe.
With a majority of the world’s excess potash capacity, large low-cost operations and strategic global investments, we have an unmatched ability to serve both North American and growing offshore markets.

Goal

Goal is to be the partner of choice, providing superior value to all our stakeholders. We strive to be the highest quality low-cost producer and sustainable gross margin leader in the products we sell and the markets we serve.
We link our financial performance with areas of extended responsibility that include safety, the environment and all those who have a social or economic interest in our business.Our Strategy
Committed to seeking earnings growth and to minimizing volatility, we employ a Potash First strategy, focusing our capital – internally and through investments – to build on our unmatched potash assets and meet the growing global demand for this vital nutrient.
By investing in potash capacity while producing to meet market demand, we create the opportunity for significant growth while limiting downside risk.
We complement our potash operations with focused nitrogen and phosphate businesses that emphasize the production of high-margin products with stable and sustainable earnings potential.


Management

William J. DoylePresident and Chief Executive Officer

With more than 32 years in the fertilizer industry, William J. Doyle has proven himself as a leader for his company and the industry as a whole. Today, he is President and Chief Executive Officer of Potash Corporation of Saskatchewan Inc., which has the world's largest integrated production capacity of the three primary nutrients.
Mr. Doyle was appointed Chief Executive Officer on July 1, 1999, after 12 years as a key member of the PotashCorp management team. He has served on the Board of Directors since the company was first listed on the Toronto and New York stock exchanges in 1989.
Mr. Doyle joined PotashCorp as President of PCS Sales in 1987, assuming responsibility for the sales and distribution of all potash produced by the company. In March 1995, he was appointed Executive Vice President of PotashCorp, where he took charge of all sales for the company – including phosphate and nitrogen – following a series of acquisitions. On July 1, 1998, he was named President and Chief Operating Officer.
Prior to joining PotashCorp, Mr. Doyle served as Vice President, International for International Minerals and Chemical Corporation.
In addition to his work with PotashCorp, Mr. Doyle is Chairman of The Fertilizer Institute, Vice Chairman of Canpotex Limited, on the board of International Plant Nutrition Institute, as well as a member of the Executive Management group of the International Fertilizer Industry Association.
Mr. Doyle is a graduate of Georgetown University in Washington, DC and is a member of its College Board of Advisors. He is also on the board of the Executives' Club of Chicago. He is married and has three children.


Economic Performance
Sustainable economic performance and growth are the foundation for PotashCorp’s ability to generate long-term value for shareholders, customers, employees, suppliers, communities
and host governments.
To be sustainable, PotashCorp must manage natural resources responsibly and maintain the respect and support of all stakeholders. By adopting a Potash First strategy, we leverage our most stable asset to minimize the volatility of our business. By focusing on the proper blend of price, production volumes and asset utilization, we position ourselves as the gross margin leader in the products we sell.
In achieving sustainability, PotashCorp is able to help local, regional and national communities to prosper by providing ongoing opportunities for employees and suppliers. Economic sustainability also increases tax revenue and royalties to our host governments.

Social Performance

By increasing participation from and dialogue with employees, business partners and communities, PotashCorp is able to foster long-term, sustainable relationships.
Building collaborative, trusting relationships with stakeholders is critical to our success. Strong social performance helps us to attract and retain a productive workforce, build efficient operations and earn the respect and goodwill of all who contribute to our long-term success.
PotashCorp strives to provide an attractive working environment governed by fair and safe working practices. We build healthy communities by supporting initiatives that improve quality of life and show respect for human rights, implementing policies that prevent discrimination, harassment and other forms of unacceptable behavior.


2005 Potash Production
million tonnes KCl)
Capacity Production
Lanigan SK 3.828 2.023
Rocanville SK1 3.044 2.573
Allan SK 1.885 1.431
Cory SK 1.361 .826
Patience Lake SK 1.033 .251
Esterhazy SK2 .953 .953
New Brunswick NB .785 .759
TOTAL 12.889 8.816