CPM, the world’s leading supplier of process engineering, process equipment and aftermarket parts for the oilseed, animal feed, biofuels and food processing industries, announces the formation of Crown Asia (Wuhan) Engineering Company (Crown Asia).
The wholly-owned company is a result of CPM’s acquisition of its joint venture partner’s shares in Wuhan Crown Friendship Edible Oil Engineering Company (CFEC). As Crown Asia, the new venture will build upon its leading market position in China and the greater Asia region in oilseed processing.
Beginning in 1991, CFEC served the Chinese oilseed market, designing the first commercial extraction unit in China. In 2001, CPM’s Crown Iron Works acquired a 60-percent stake in CFEC, combining the technological assets to better serve the expanding market. Since that time, the joint venture has established itself as the leading Chinese oilseed technology company with more than 300 processing installations. Now as Crown Asia, the company will expand its Wuhan operations to more fully serve the Asia region with a full complement of process solutions and equipment.
“The formation of Crown Asia fully aligns the ownership and management philosophies of the former company,” said Dan Anderson, managing director of Crown Asia. “The new company will be a great benefit to our customers and employees as we continue to develop leading process and equipment solutions throughout the world for preparation, extraction, oil refining and oleochemical systems.”